The Standard Buy Sell Agreement is a fundamental commercial contract used when one party wishes to sell and another wishes to purchase goods, assets, or property. This agreement, governed by English and Welsh law, provides a comprehensive framework for the transaction, including detailed terms of sale, warranties, and completion mechanics. It is particularly useful for businesses engaging in regular commercial transactions and requires careful consideration of the Sale of Goods Act 1979, Contract Law, and other relevant legislation. The agreement helps protect both parties' interests and provides clarity on their respective rights and obligations throughout the transaction process.
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1. Parties: Identification and details of all parties to the agreement
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core terms of the transaction
5. Purchase Price: Payment terms and consideration
6. Completion: Timing and mechanics of completion
7. Warranties: Standard warranties given by seller
8. Termination: Circumstances and process for termination
9. Governing Law: Jurisdiction and applicable law
1. Due Diligence: Section covering verification process for complex or high-value transactions
2. Conditions Precedent: Section detailing conditions that must be met before completion
3. Post-Completion Obligations: Section covering ongoing obligations after completion
4. Non-Compete: Section containing restrictions on future competition and protection of goodwill
1. Asset Schedule: Detailed list of assets being transferred
2. Warranties Schedule: Detailed warranties and representations
3. Disclosure Letter: Exceptions to warranties
4. Property Schedule: Details of any real property included in sale
5. Intellectual Property Schedule: List of IP rights being transferred
Relevant legal definitions
Agreement
Assets
Business Day
Completion
Completion Date
Confidential Information
Consideration
Deposit
Effective Date
Encumbrance
Force Majeure
Intellectual Property Rights
Losses
Material Adverse Change
Party/Parties
Purchase Price
Seller's Knowledge
Sold Assets
Tax/Taxation
Transaction
Transfer
Warranties
Working Hours
VAT
Vendor Due Diligence
Title Documents
Schedules
Related Parties
Property
Permitted Encumbrances
Payment Terms
Notices
Liabilities
Law
Governing Law
Assets
Business Day
Completion
Completion Date
Confidential Information
Consideration
Deposit
Effective Date
Encumbrance
Force Majeure
Intellectual Property Rights
Losses
Material Adverse Change
Party/Parties
Purchase Price
Seller's Knowledge
Sold Assets
Tax/Taxation
Transaction
Transfer
Warranties
Working Hours
VAT
Vendor Due Diligence
Title Documents
Schedules
Related Parties
Property
Permitted Encumbrances
Payment Terms
Notices
Liabilities
Law
Governing Law
Clauses
Interpretation
Sale and Purchase
Purchase Price
Payment Terms
Completion
Pre-Completion Obligations
Post-Completion Obligations
Warranties
Representations
Title and Risk
Due Diligence
Confidentiality
Non-Competition
Non-Solicitation
Assignment
Force Majeure
Termination
Indemnification
Notices
Transfer of Title
Intellectual Property
Tax Matters
Limitation of Liability
Dispute Resolution
Entire Agreement
Severability
Waiver
Third Party Rights
Amendments
Further Assurance
Costs
Counterparts
Governing Law
Jurisdiction
Sale and Purchase
Purchase Price
Payment Terms
Completion
Pre-Completion Obligations
Post-Completion Obligations
Warranties
Representations
Title and Risk
Due Diligence
Confidentiality
Non-Competition
Non-Solicitation
Assignment
Force Majeure
Termination
Indemnification
Notices
Transfer of Title
Intellectual Property
Tax Matters
Limitation of Liability
Dispute Resolution
Entire Agreement
Severability
Waiver
Third Party Rights
Amendments
Further Assurance
Costs
Counterparts
Governing Law
Jurisdiction
Relevant Industries
Relevant Teams
Relevant Roles
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