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Form #1537Sale of all corporate property not in usual course of business—Contract of sale
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Sale of all corporate property not in usual course of business—Contract of sale
this form has not been reviewed by a lawyer
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Sale of all corporate
property not in usual course of business—Contract of sale.
Agreement made this _________ day of _________,
_________[year], between _________ Company, a corporation of _________,
called vendor, and _________ Company, a corporation of _________, called
purchaser, in consideration of the agreements of the parties and in
consideration of the partial payment made to vendor by purchaser provides that:
Vendor agrees to sell, convey, transfer and deliver to
purchaser, at the price and upon the terms and conditions stated, all vendor's
manufacturing business and properties, including all vendor's real estate,
plants, furnaces, structures, machinery, tools and appliances (including
manufacturing books, accounts and data of costs but excluding books of account
of the business other than those containing accounts), all materials and
supplies and all manufactured products and materials in the process of
manufacture, and all patents, processes, inventions, rights under, and
interests in and claims to, patents, processes and inventions, trademarks,
trade rights and trade names of every sort and kind to it belonging, and the
goodwill of the business, and the exclusive right to use the name _________ in
carrying on the business, and all leaseholds, contracts and other rights,
privileges and franchises used or of use in or in connection with or acquired
for, the business, and all gas, power, light and other tributary properties,
being substantially all the properties of vendor, excepting _________, and
bills and accounts receivable.
The sale and transfer of the properties described
above is to be effective as of _________[date], and from that date it is
to be understood that the business and properties have been and will be
operated for account and at the expense of purchaser.
Deeds, bills of sale and other instruments of transfer
of the properties, shall be delivered at the office of _________ in the City of
_________ on the _________ day of _________, _________[year], or earlier
in case transfers and examinations of title and the requisite corporate action
shall be ready earlier, and these transfers and the instruments shall be
supported by any corporate action and action of individual stockholder of
vendor as shall be requisite to make the transfers wholly legal and effective,
which action vendor shall cause to be taken as soon as possible.
At the time of the transfers vendors will cause to be
executed, and delivered to purchaser an agreement not to engage in the
_________ manufacturing or selling business or any branch in the United States
or Canada (except in connection with purchaser) for the period of ten years,
executed by _________, president of vendor, and vendor will use its best
efforts to cause a like agreement to be executed and delivered by each of the
following: _________, _________, and _________.
Immediately after the transfer by vendor to purchaser
as provided, vendor will proceed with the liquidation of its business and
properties and distribution among its stockholders, and will be dissolved as a
corporation, and will notify purchaser of the dissolution.
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Terms Of Use
Submissions to this site, including any legal or business forms, posts, responses
to questions or other communications by contributors are not intended as and should
not be construed as legal advice. You are strongly encouraged to consult competent
legal council before engaging in any action based upon content contained on this
site.
These downloadable forms are only for personal use. Retransmission, redistribution,
or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
Please note that the donator may have included different usage terms regarding this
form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
to make sure that your needs are being properly and completely satisfied.
Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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Keywords: Sale of all corporate property, not in usual course of business, Contract of sale
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