AGREEMENT TO SELL
THIS AGREEMENT is made at ____on this the ____day of
____200_ BETWEEN
Mr._____ S/o. _____, aged about ________ years, residing
at ____ herein after referred to as “The VENDOR” (which
expression shall, unless it is repugnant to the context,
mean and include his legal representatives, executors
and assigns)
AND
Mr_____ S/o. _______, aged about ___years, residing
at ____________ herein after referred to as “The PURCHASER”
(which expression shall, unless it is repugnant to the
context, mean and include his legal representatives,
executors and assigns)
WHEREAS:
The Vendor is the absolute owner of ______ at _______
more fully described in the Schedule A hereunder, on
monthly tenancy, under the name and style of ________carrying
on the business of selling _________since __.
The said business consists of
NOW THEREFORE IN CONSIDERATION OF THE MUTUAL OBLIGATIONS
AND UNDERTAKINGS CONTAINED HEREIN THIS AGREEMENT WITNESSETH
AS FOLLOWS:
The Vendor shall sell the business of departmental store
namely "Popular Stores" and the Purchaser
shall purchase the Business.
The Purchaser shall pay the sale consideration to the
Vendor as agreed hereunder.
The Vendor shall sell and the Purchaser shall purchase
the said Business of the Vendor carried in the name
and style of _____for a sale consideration of Rs. ____.
The Purchaser has paid an advance amount of _____by
cash to the Vendor and the Vendor acknowledges the receipt
of the same. The purchaser shall pay the balance sale
consideration within ___ days from the date of execution
of this Agreement.
The vendor shall execute a Deed of Assignment in favour
of the purchaser conveying all his right, title, interest,
good will, name and all other rights including the right
to recover the debts on receipt of full consideration
from the Purchaser.
The Vendor covenants with the purchaser that he shall
not carry on similar business within a radius of ___
from the place of business of the purchaser herein.
The parties hereto agree to comply with all applicable
laws, rules and regulations relating to or affecting
the performance of each of their obligations hereunder
and shall secure and maintain in full force and effect
all licenses, permits and authorisations from all statutory
agencies to the extent the same are required or necessary
for the performance of their respective obligations
hereunder at all times during the term of this agreement.
The Courts in ____shall have exclusive jurisdiction
over any dispute with respect to any matter arising
under this Agreement.
SCHEDULE A
All that piece and parcel of the business of____carried
on in the name and style of ___situate at _______ having
a built up area of __Sq.Ft.
SCHEDULE B IN WITNESS WHEREOF, the parties
hereto affixed their signatures on the day, month and
year mentioned herein above.
VENDOR
PURCHASER
WITNESSES:
1.
2. |
