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There are some additions in assignment 393548. There is an example in the attachments which we need to get some information from it such as the form, parties details(address,phone,…) , standard provisions(general conditions) , execution clause, schedules, bibliography and other. And the companies should be named, and the financial details should be showed for example the purchase price should there are numbers for the cost.
Thanks,,
The question was Drafting Assignment
You have taken instructions from a client who wishes to purchase a business by contract
Please proceed to draft a contract, ensuring that you deal with all of the appropriate issues, but assuming the following:
” The contract need not be in final form, but can take instead the form of an advanced draft ready to be submitted to the senior partner for final comment before being put into the appropriate final form.”
that the purchaser is a company incorporated in Australia;
that the financing is to be 15% deposit and the balance 30 days following exchange of contracts
that time is to be off the essence
that the law of the ACT shall apply to the contract
that appropriate taxes are to be carried the relevant party
that the business be free of debt
that the stock at hand be at value
that goodwill and ownership of trade secrets shall be included
that the previous owners shall be constrained from starting up a similar business within what you consider a reasonable radius and for a reasonable time
ownership of intellectual property is to be included at no extra cost
that the property lease is to be transferred at no cost to the purchaser
that all licences and permits are to be transferred at no extra cost
that the seller bear all staff entitlement liabilities
and include any other relevant matters that you consider important.
“The contract need not be in final form, but can take instead the form of an advanced draft ready to be submitted to the senior partner for final comment before being put into the appropriate final form.”
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