The Buy and Sell Agreement Form is a fundamental legal document used in Irish commercial transactions to formalize the transfer of assets, property, or business interests from a seller to a buyer. This document is essential when conducting significant commercial transactions in Ireland, whether between individuals, companies, or a combination of both. It incorporates key provisions required under Irish law, including elements from the Sale of Goods Act, property legislation, and commercial law principles. The agreement typically includes detailed descriptions of the assets being sold, purchase price, payment terms, warranties, and both pre- and post-completion obligations. It serves as a crucial tool for protecting the interests of all parties involved while ensuring regulatory compliance and proper documentation of the transaction terms.
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1. Parties: Identifies and provides full details of the buyer and seller, including legal names, addresses, and registration numbers for companies
2. Background: Explains the context of the sale and the parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. Sale and Purchase: Details the core transaction - what is being sold and purchased
5. Purchase Price: Specifies the price, payment terms, and payment method
6. Completion: Sets out the completion date and mechanics of closing the transaction
7. Seller's Warranties: Lists the seller's representations and warranties about the sale items
8. Buyer's Warranties: Contains the buyer's representations and warranties
9. Pre-Completion Obligations: Details what each party must do before completion
10. Post-Completion Obligations: Outlines obligations after the sale is completed
11. Confidentiality: Specifies confidentiality obligations regarding the transaction
12. Notices: Details how formal notices should be given between parties
13. General Provisions: Contains standard boilerplate clauses including governing law, jurisdiction, etc.
14. Execution: Signature blocks and execution formalities
1. Property Title: Required when selling real estate - includes specific provisions about title, planning permissions, and property-specific warranties
2. Intellectual Property Rights: Include when the sale involves IP assets, detailing their transfer and any licenses
3. Employee Matters: Required when the sale involves transfer of employees or business assets
4. Tax Covenants: Include for complex transactions with specific tax implications
5. Environmental Matters: Required when selling property or business with environmental considerations
6. Data Protection: Include when personal data is part of the transferred assets
7. Competition Compliance: Required for large transactions that might have competition law implications
8. Earn-out Provisions: Include when part of the purchase price is contingent on future performance
1. Schedule 1 - Assets Description: Detailed list and description of all assets being sold
2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale
3. Schedule 3 - Properties: Details of any real estate included in the sale
4. Schedule 4 - Warranties: Full list of warranties given by the seller
5. Schedule 5 - Encumbrances: List of any existing liens, charges, or encumbrances
6. Schedule 6 - Intellectual Property: Detailed list of IP rights included in the sale
7. Appendix A - Form of Transfer Documents: Templates for any transfer documents required
8. Appendix B - Completion Checklist: List of actions and documents required for completion
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