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Connecticut Agreement to Sell Business

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Connecticut Agreement to Sell Business Powered By Docstoc
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                             This is an agreement to sell a business subject to certain conditions. In an agreement to
                             sell, unlike a contract of sale, the transfer of property is to take place at a future time once
                             certain conditions have been satisfied. This document contains numerous standard clauses
                             commonly found in these types of agreements, but can be customized to fit the needs of
                             the buyer and seller. This agreement is useful to owners of small businesses located in
                             Connecticut seeking to sell their company or to prospective buyers of a business.
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                                AGREEMENT TO SELL BUSINESS


THIS AGREEMENT TO SELL BUSINESS (“Agreement”) made this _____ [Month] _____
[Date], 20_____, by and between ________________________ [Instruction: Insert the name
of business owner], residing at ________________________ [Instruction: Insert the address
of business owner] (hereinafter referred to as "Seller") and ________________________
[Instruction: Insert the name of Buyer] (hereinafter referred to as the "Buyer").


   WHEREAS, the Seller desires to sell and the Buyer desires to buy the business having
registered name as ________________________ [Instruction: Insert the registered name of
business] having registered office at ________________________, duly registered under
CONNECTICUT STATUES, Title 33, Chapter 601, Corporations and also known as
______________________ (hereinafter “Business”) and the Business owns all assets thereof as
contained in Exhibit "A" attached hereto, furthermore, the parties hereto agree and covenant as
follows:


1. The total purchase price for all fixtures, furnishings and equipment listed under Exhibit A is
   _______________ ($______) [Instruction: Insert the Purchase amount E.g., two hundred
   and fifty thousand dollars only ($2,50,000)] payable as follows:


   a. $____________ paid in cash; certified or bank checks, as a deposit upon execution of this
       Agreement, to be held by ________________________. [Instruction: Insert the name
       of the Bank where to held the deposit]


   b. $___________ additional to be paid in cash, certified or bank checks, at the time of
       closing.

   c. $_________ to be paid by a note of the Buyer to the Seller, bearing interest at the rate of
       _____ percent per annum with an option of the Buyer to prepay the entire outstanding
       obligation without penalty. Said note shall be secured by a chattel mortgage and
       financing statement covering the property to be sold hereunder, together with any and all



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       other property acquired during the term of said note and placed in or within the prem
				
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Description: This is an agreement to sell a business subject to certain conditions. In an agreement to sell, unlike a contract of sale, the transfer of property is to take place at a future time once certain conditions have been satisfied. This document contains numerous standard clauses commonly found in these types of agreements, but can be customized to fit the needs of the buyer and seller. This agreement is useful to owners of small businesses located in Connecticut seeking to sell their company or to prospective buyers of a business.
This document is also part of a package Essential Connecticut Legal Documents 86 Documents Included