The For Sale Agreement is a fundamental commercial document used to formalize the sale of assets between parties under Irish law. It is essential for any transaction involving the transfer of ownership, whether for goods, property, or business assets. The agreement should be used whenever there is a need to document the terms of a sale transaction, particularly for significant or complex sales where detailed terms need to be established. It incorporates requirements from Irish legislation, including the Sale of Goods Act 1893, Sale of Goods and Supply of Services Act 1980, and relevant EU regulations. The document typically includes comprehensive details about the assets being sold, price, payment terms, warranties, and completion requirements, providing legal protection for both parties and clarity on their respective rights and obligations.
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1. Parties: Identifies and provides full legal details of the seller and buyer
2. Background: Sets out the context of the sale and brief description of what is being sold
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules
4. Sale and Purchase: Core agreement to sell and purchase, including description of the sale items
5. Purchase Price: Specifies the price, payment terms, and payment method
6. Completion: Details of when and how the sale will be completed, including delivery terms
7. Seller's Warranties: Warranties regarding ownership, condition, and quality of the sale items
8. Buyer's Warranties: Warranties from the buyer, typically regarding authority to enter agreement and financial capacity
9. Risk and Title: Specifies when risk and ownership transfers from seller to buyer
10. Confidentiality: Obligations regarding confidential information disclosed during the transaction
11. Entire Agreement: Confirms the agreement represents the entire understanding between parties
12. Governing Law and Jurisdiction: Specifies Irish law as governing law and jurisdiction for disputes
13. Execution: Signature blocks and execution formalities
1. Conditions Precedent: Used when completion is subject to certain conditions being met first
2. Due Diligence: Include when buyer has rights to conduct investigations before completion
3. Intellectual Property: Required when the sale includes IP rights or licenses
4. Employee Matters: Necessary when the sale involves transfer of employees
5. Tax Matters: Include for complex transactions with specific tax implications
6. Post-Completion Obligations: Used when parties have ongoing obligations after completion
7. Non-Competition: Include when seller agrees not to compete post-sale
8. Insurance: Required when specific insurance obligations need to be maintained
9. Force Majeure: Include when parties want specific provisions for unforeseen events
1. Asset Schedule: Detailed description of all assets being sold
2. Excluded Assets: List of assets specifically excluded from the sale
3. Purchase Price Calculation: Detailed breakdown of how the purchase price is calculated
4. Form of Transfer Documents: Templates of any required transfer documentation
5. Warranties: Detailed list of warranties given by the seller
6. Encumbrances: List of any existing encumbrances on the sale assets
7. Required Consents: List of third-party consents required for the sale
8. Completion Checklist: List of actions required to complete the sale
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