USA Affidavit of Seller re Sale of Business Assets

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USA Affidavit of Seller re Sale of Business Assets Powered By Docstoc
					                                SELLER'S AFFIDAVIT
STATE OF ____________

COUNTY OF ____________

THE UNDERSIGNED, being first duly sworn, deposes and says:

   1.    __________ is the sole owner of that business known as ___________, located and
         doing business in the State of , whose address is _______________.

   2.    __________ has the full right and authority to enter into and consummate the sale of
         said business, including its goodwill, trade or fictitious name, stock in trade, fixtures,
         furniture, office equipment, supplies, licenses, telephone rights including the right to
         all existing telephone numbers servicing said business, and those items of equipment
         specifically listed and described in Schedule "A", including the business and fictitious
         name ________.

   3.    __________ is the owner of the personal property, inventory, and equipment being
         sold in fee simple, unencumbered by any liabilities, debts, or liens, be they state,
         federal or private, except as more fully set out in Schedule "B" attached hereto, if any.

   4.    There are no other federal, state or local taxes owed of any kind, type or description
         for the operation of the business known as ___________, prior to and including the
         date hereof, including, but not limited to, sales tax, social security and income tax,
         and any payroll taxes. Any assessments, fees, or taxes which have yet to become due
         will be paid immediately at such time as they are calculated, made or assessed.
         Affiant's failure to pay said obligations shall entitle the BUYER to a right of SET-
         OFF and INDEMNIFICATION, a right which may appear in the Purchase Contract
         and Security Agreement and may be placed in the Promissory Note executed
         contemporaneously herewith.

   5.    Any and all representations set out in the contract are true as of the date hereof.

   6.    Other than as set out in Schedule "B", there are no debts or obligations of any kind
         encumbering the inventory and assets being sold and there are no outstanding security
         interests or liens in said inventory or assets.

Description: Use this template to prepare an Affidavit of Seller, as part of the documentation for the purchase and sale of a business in the USA in accordance with bulk sales act legislation. The seller confirms that: - the seller has the right to sell the business, assets, inventory, goodwill and equipment of the business, - no taxes are owing with respect to the business being sold, - no litigation is pending, and - the seller has not done anything which would give rise to a claim against any of the items being sold. This USA Affidavit of Seller re Sale of Business Assets template is provided in MS Word format. Downloadable and fully editable.
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