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Complete Home and Office Legal Guide (Chestnut) (1993).ISO
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2240.sam
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1993-08-01
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87 lines
AGREEMENT FOR BULK SALE
Gerald Johnson, referred to as SELLER, and Thomas Doughtery,
referred to as BUYER, agree:
SELLER shall sell to BUYER the following goods:
5000 gallons of latex rubber
The total purchase price shall be $ 38,525 ( thirty eight thousand
five hundred twenty five & no/100 dollars). The BUYER shall pay a
deposit of $ 4,000.00 ( four thousand & no/100 dollars) no later
than April 15, 1994. The balance of the purchase price shall be
paid no later than July 1, 1994.
Delivery of the same shall take place on no later than June 1,
1994, at Acme Rubber Mask Factory, 11240 Dakota Avenue, Flint,
Michigan.
This sale shall be pursuant to the Section 6 of the Uniform
Commercial Code (referred to herein as the "Bulk Sales Law") of
the State of Michigan.
SELLER shall provide to BUYER a complete and sworn list of
creditors, including those who assert claims, but which are
disputed by SELLER, even if those claims are groundless or false.
The SELLER shall be under a continuing duty to supplement the list
of creditors if there are any changes or new claims asserted, even
if the same are groundless or false.
At least 30 days days before the closing scheduled herein, the
BUYER shall give notice of the transfer, as is provided in the
Bulk Sales Law, to all creditors, including those who are listed
as disputed. The SELLER shall fully cooperate with BUYER in the
mailing of the notices and the provision of information necessary
to complying with the provisions of the Bulk Sales Laws.
The BUYER shall assume and pay the following liens on the assets
sold herein:
Bwana Boatman Inc, $2,000.00
SELLER shall indemnify the BUYER from any and all other claims to
the assets.
The risk of law shall be borne by the BUYER. SELLER agrees to
cooperate with BUYER in procurement of insurance or other
reasonable risk-reduction measures employed by BUYER.
BUYER shall have the right to terminate this agreement if loss is
caused by a deliberate act of the SELLER.
The parties acknowledge that Kendall Smith acted as procuring
broker herein, and shall be compensated as follows:
10% by seller
Time shall be of the essence in this agreement.
This contract constitutes the entire agreement between the parties
and there are agreements, express or implied, that are not stated
herein. This agreement may only be modified by a writing executed
by both parties herein.
Dated: _______________________________
____________________________________________
Gerald Johnson, by an authorized representative
____________________________________________
Thomas Doughtery, by an authorized representative