(0) items
You have no items in your shopping cart.
All Categories

    Ontario Purchase Agreement for Assets of Operating Company


    Acquire the assets of an Ontario corporation with this Purchase Agreement for Assets of Operating Company.

    • The seller (vendor) sells the assets of a company to the purchaser and the purchaser assumes the company's liabilities as part of the purchase price.
    • The balance of the purchase price will be secured by a promissory note.
    • The parties agree to file joint elections under sections 22 and 97(2) of the Income Tax Act (Canada) and as required under the Ontario Corporations Tax Act.
    • The form includes a Section 116 Affidavit to be sworn by a corporate officer of the vendor, if applicable.
    • The form also includes a Promissory Note.

    The Ontario Purchase Agreement for Assets of Operating Company is a fully editable legal template.

    Download Type: Microsoft Word
    Last Updated: 02-April-2017
    SKU: 1077
    Customers who bought this item also bought

    Ontario Offer to Purchase Business Assets & Shares


    Have you decided to buy an established business in Ontario? You can write up your offer to purchase the assets and shares of the company with this downloadable template.

    • The offer is for the assets (excluding cash on hand and receivables) and the shares, but not the debt obligations of the company.
    • Upon being accepted, the offer automatically becomes a legally binding purchase and sale agreement.
    • The buyer will not assume any of the business liabilities except for the premises lease, maintenance contracts and salaries of employees that will be kept on after the closing.
    • The parties agree to review and make any adjustments to the purchase price six months after closing.
    • It is the seller's responsibility to terminate employees, prepare financial statements, file the final income tax return and pay corporate taxes as of the closing date.

    Writing an offer to purchase can be easier than you think, if you start with this Ontario Offer to Purchase Business Assets & Shares. Buy it, download it, and get started right away.