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Restaurant Purchase Agreement

Opublikowano: niedziela, kw. 11, 2021

A. CONSIDERING that the seller in the store of the management of a restaurant, the management and/or marketing of various food and beverage products such as Indian food, pizzas, hamburgers, ice creams, bakeries and confectionery, etc…. (hereafter referred to as the restaurant) Just as operating a successful restaurant requires competent staff, the successful purchase of a restaurant requires a team of competent professionals, including a lawyer, an accountant and an insurance professional. For legal aid, call us (515) 727-0900. There are two ways to buy the business. You can buy the investments or the buyer the stock. There are considerable differences between the two methods. The purchase of assets only covers certain assets. An asset purchase avoids the debts of the buyer`s former owner EXCEPTION can be blocked with certain taxes on salary/unemployment when the buyer hires the seller`s employees. As with any purchase, the buyer lands with pawn fees on assets that the seller does not say are „clear”.

When the buyer acquires assets (instead of stocks), it is important to state in writing all the contracts that the buyer wishes to accept (such as a lease of premises or equipment) and to ensure that the transaction depends on the fact that acceptance can enter into an acceptable agreement. It is necessary to explicitly acquire „intellectual property,” including: restaurant name, recipes, phone number, website, all prepaid advertisements, etc. Buyers prefer to buy assets because there is more certainty about what they are buying and because it has the best tax result for the buyer. Often, a buyer pays a higher price to simply buy assets and avoid many risks. d. References to this agreement or other agreement, instrument or other instrument must be interpreted as referring to this agreement, act or any other instrument, as it may be amended, amended or supplemented from time to time; From and after closing, the seller and the individual partners of the seller, the buyer, his related businesses, the successors, the beneficiaries of the assignment and their respective directors, representatives, representatives, collaborators and enforcement assistants agree to: of all losses, liabilities, rights, damages, costs and expenses (including, but not limited, legal fees and interests in relation to them) (cumulative claims) that arise, incur or are incurred in connection with (a) the operation of the seller of the restaurant on the day or before the closing; b) the seller`s failure to take charge and meet its obligations paid by the buyer in accordance with point 1.2 above. or (c) a violation of any insurance, warranty, contract or agreement that must be honoured by the seller under this Agreement.

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