What is Contract for Sale of Business?
Formal contract by which a seller agrees to sell and a buyer agrees to buy, under certain terms and conditions spelled out in writing in the document signed by both parties. Also called agreement of sale, contract for sale, sale agreement, or sale contract. This document is accompanied by a Bill of Sale which itemizes the inventory and goods that are transferred over to the buyer.
Further Reading
For more detailed information, see our related Contracts terms:
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