A bill of sale a document that is evidence of an assignment or sale of personal property. Tangible personal property is property that we can see, touch and not affixed to real property as a fixture. Examples of tangible personal property would be vehicles, machinery, office equipment and inventory. Intangible personal property includes claims and debts (also called choses in action), copyrights, patents, and trademarks. Both tangible and intangible personal property can be transferred by a bill of sale. This document can provide both the seller and buyer with a record of what has been sold, to whom, when, and for what price.
Bill of Sale and Assignment Pursuant to Purchase Agreement Pursuant to the Purchase Agreement, dated (date), between (Name of Purchaser), a corporation organized and existing under the laws of the state of (name of state), with its principal office located at (street address, city, state, zip code), referred to herein as Purchaser, and (Name of Seller), a corporation organized and existing under the laws of the state of (name of state), with its principal office located at (street address, city, state, zip code), referred to herein as Seller. 1. Consideration. For and in consideration of: (i) the payment delivered on (date) to Seller; and (ii) the assumption of certain liabilities of Seller pursuant to the above- stated Agreement, and other good and valuable consideration, the receipt of which is acknowledged, does assign to Purchaser all of the assets described in Exhibit A used in the business of Seller at (street address, city, state, zip code), said business having the trade name of (Name of Business). 2. Collection of Accounts. A. Seller hereby (i) appoints Purchaser as its true and lawful attorney-in-fact of Seller, with full power of substitution, having full right and authority, in the name of Seller to collect or enforce for the account of Purchaser, liabilities and obligations of third parties with respect to the above-specified assets; (ii) to institute and prosecute all proceedings that Purchaser may deem proper in order to enforce any claim to the above-specified assets, (iii) to defend and compromise any and all actions, suits, or proceedings in respect of any of the above-specified assets, and (iii) to do all such acts in relation to such assets that Purchaser may deem advisable. B. Seller agrees that the above-stated powers are coupled with an interest and shall be irrevocable by Seller. 3. Warranty of Title. Seller warrants to Purchaser that it has good title to the above-specified assets, and further warrants that it has full right and authority to assign them as specified in this instrument. 4. Assignment of Leases. Seller assigns to Purchaser all of its rights, duties, and obligations under the real and personal property leases described in Exhibit B attached hereto and made a part hereof. 5. Severability. The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 6. No Waiver. The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions,
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