Offer to purchase (promise to purchase) a business - Goodwill

Description

• Theoffer or promise to purchase is crucial inbusiness acquisition negotiations, as it legally commits both parties.
• This document represents the contract in which the buyer undertakes to buy the company, and the seller, by accepting, undertakes to sell according to the agreed terms. This ensures a solid basis for finalizing the transaction.
• At the time of purchase, the buyer acquires all the elements of the business: trade name, equipment, patents, inventory, clientele, etc., in what is often referred to as a " sale of goodwill ". This transaction transfers all the assets required for the ongoing operation of the business.
• Unlike a sale of shares, thebuyer does not continue the legal personality of the business in a and does not generally take over the company's debts. the company's debts. However, he or she must renew the licenses necessary for its operation to ensure legal compliance and proper functioning of the business after the acquisition.
• Once accepted by the seller, the offer to purchase becomes a legal document equivalent to a contract. equivalent to a contract, binding both parties to finalize the sale on the agreed date, subject to satisfaction of all stipulated conditions. Failure to comply with the offer to purchase can have serious legal consequences:
• If the seller refuses to act on the offer, but subject to any provisions to the contrary in the offer to purchase, the buyer can ask the court to force the sale according to the terms of the offer, an action commonly referred to as "forced execution".
• If the buyer withdraws by refusing to take action offer, but subject to any provisions to the contrary in the offer to in the offer to purchase, the seller may claim damages for loss suffered, covering financial losses and lost opportunities.

• The offer to purchase available on this site is a comprehensive document that should meet your needs in most situations.
• For additional legal information, we invite you to consult our frequently asked legal questions.

Other services offered

Summary

• Identification of the parties
• Purpose of the offer
• Price offered
• Conditions of the offer to purchase
• Declarations and obligations of the buyer
• Declarations and obligations of the seller
• Reciprocal obligations and declarations of the parties
• Additional clauses (choice)
• Special clause (if applicable)
• Special provisions
• Mediation (if applicable)
• Acceptance and notification

Price

Available options