Tennessee Asset Purchase and Sale Agreement

Sell your business and transfer ownership of the business assets to a buyer under the terms of this Tennessee Asset Purchase and Sale Agreement.

• The buyer agrees to purchase all inventory, equipment, supplies, improvements, fixtures, goodwill, accounts receivable, tangible and intangible assets of the business.
• The buyer will assume certain liabilities and indemnifies the seller against claims relating to those liabilities. The seller indemnifies the buyer with respect to any debts or obligations not being assumed.
• The purchase price includes a stated value of inventory. If the actual value is greater or less than this value, the purchase price will be adjusted accordingly. The parties agree to jointly take inventory prior to closing.
• The seller agrees to train the buyer's employees for a specified period of time after closing, at no additional cost.
• The business premises lease will be assigned to the buyer.

This Tennessee Asset Purchase and Sale Agreement is ideal for transactions which do not involve a broker. It includes standard form language and provisions and is easy to customize.