If you`re buying a home, it`s simple. You buy a property for a certain amount. In the case of a sale of assets, the contract of sale must specify the assets and liabilities of the purchase price. If you buy shares in a company, you buy part of all aspects of the business. If you buy all the shares in the business, you own all facets of the business. A well-crafted business sales contract ensures that your best interests are taken care of, whether you are the buyer or the seller. It includes the terms of sale, what is or is not included in the sale price, and optional clauses and warranties to protect both the seller and the buyer after the conclusion of the transaction. If you have a sales contract in Calgary, give us a call today. The purchase contract also contains many clauses covering the transaction before the sale, as well as the rights, obligations, indemnities and liabilities of the buyer and seller after the sale. A sales contract (or sales contract) is a much more complex legal document than a home purchase contract. If you buy assets in a company, you are not buying the company yourself, but only one aspect of it. This can mean a product, a customer list, or a type of intellectual property. The company or enterprise retains its name, commitments and tax returns.
The purchase price can be a combination of several components: a failure to document these items is likely to lead to misunderstandings and disagreements between the buyer and seller. In most cases, selling shares will minimize the tax bite for the seller. But buyers generally prefer not to buy shares for tax or legal liability issues. Due to tax treatment, the sale of assets and the sale of shares may result in different prices. In the event of a sale of assets, the buyer buys certain assets and assumes certain liabilities to the company, not to you personally. All revenue goes to the company and can only be paid to you in the form of a salary or dividend from the company. The business is still owned by existing shareholders and buyers usually include a new business. Regardless of the type of sale, the sales contract must determine which assets are included and excluded.
It should also be indicated whether any debts are borne by the buyer. . . .