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Bulk Sale Contract

This document is a bulk sales contract between a buyer and sellers. It outlines that the sellers will sell all goods, wares, merchandise and fixtures located in their store to the buyer. An inventory will be taken immediately upon signing and the deposit of earnest money by the buyer. The goods will be valued based on the inventory and delivered to the buyer within 10 days. The buyer will deposit funds in escrow until the sellers comply with bulk sales laws and provide a full creditor list, with all creditors to be immediately paid. Upon compliance, the buyer will pay the sellers the total invoice amount in full payment for the property. Failure to comply will result in liquidated damages specified in the contract being paid by the failing party.

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Raj Maruthi
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74 views3 pages

Bulk Sale Contract

This document is a bulk sales contract between a buyer and sellers. It outlines that the sellers will sell all goods, wares, merchandise and fixtures located in their store to the buyer. An inventory will be taken immediately upon signing and the deposit of earnest money by the buyer. The goods will be valued based on the inventory and delivered to the buyer within 10 days. The buyer will deposit funds in escrow until the sellers comply with bulk sales laws and provide a full creditor list, with all creditors to be immediately paid. Upon compliance, the buyer will pay the sellers the total invoice amount in full payment for the property. Failure to comply will result in liquidated damages specified in the contract being paid by the failing party.

Uploaded by

Raj Maruthi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Bulk Sales Contract

l. PARTIES. This contract is made [date] between [name] of [name], herein


called "Sellers," and [name], herein called "Buyer."

2. AGREEMENT TO SELL. The Sellers shall sell to the Buyer, and the Buyer
shall buy from the Sellers, all of that certain stock of goods, wares and
merchandise belonging to the Sellers, and now located in the storeroom at
[location], together with all furniture and fixtures therein, belonging to the
Sellers.

3. STORE CLOSED FOR INVENTORY. Upon the execution and delivery of


this contract, properly signed and executed, and the payment of the earnest
money hereinafter mentioned, the store shall be closed temporarily, and an
inventory taken immediately, and delivered to the Buyer, at the invoice cost
$_______, without including transportation charges or expenses, deducting,
however, any depreciation on account of damages, wear and tear.

4. INVOICE VALUATION OR ARBITRATION. The goods, wares and


merchandise and furniture and fixtures shall be inventoried at [location].

5. TIME TO COMPLETE INVENTORY. Ten days shall be allowed to


complete the inventories, upon which date all of the property shall be thereupon
delivered by the Sellers to the Buyer.
6. DEPOSIT IN ESCROW TO SECURE COMPLIANCE WITH BULK
SALES LAW. The Buyer, in consideration of the premises, shall, upon the
execution of this contract, deposit in escrow in the [name] Bank, the sum of
$________ as earnest money to bind the trade, the sum to be returned to the
Buyer in case the Sellers fail to make good title to the property, and upon the
consummation of the deal and the tender of the Sellers to the Buyer of their
certain bill of sale to the property, showing that the Sellers have complied with
all the requirements and conditions of the Bulk Sales Law of [jurisdiction] and
that they will furnish to Buyer a full and complete list of all creditors of the
store, together with the amounts due the creditors, that the creditors shall be
immediately paid in full such amounts as may be due them, and that the total
amount shown to be due by the Sellers shall be deposited in escrow in [name]
Bank, until all creditors of the store shall give a release of their claim against the
store, or the individual members thereof, the Buyer shall pay to the Sellers the
total amount of the invoice in cash and the payment shall be accepted in full
payment for the property.

7. LIQUIDATED DAMAGES. All the stipulations, agreements and conditions


contained in this contract are to apply to and to bind the heirs, executors and
administrators of the respective parties hereto, and, in case of failure, the parties
bind themselves each to the other in the sum of $_____ Dollars, as fixed and
settled damages to be paid by the failing party.

_______________________ _____________________

Buyer......................Seller ________________

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