Liquor License Form PDF Details

Navigating the waters of acquiring or transferring a liquor license can be complex, requiring careful attention to legal details and procedures. The Liquor License Agreement form is an essential document for entities involved in buying or selling a liquor store business, including the transfer of liquor licenses. This comprehensive agreement outlines the specifics of the sale, capturing the mutual understandings between the seller and purchaser, ranging from the sale of real property and the business itself to the all-important liquor license. Key elements include the delineation of the purchase and sale details, the total purchase price and its allocation among various assets like the liquor license, fixtures, stock-in-trade, and goodwill, as well as payment arrangements. Further, the agreement covers essential steps such as the execution of a bill of sale, escrow particulars, and the adjustment and settlement of accounts at closing. It sets forth the timing for the settlement and transfer of possession, warranties by the purchaser regarding legal capabilities to hold the liquor license, and the conditional nature of the agreement based on approval from pertinent regulatory bodies like the Department of Alcoholic Beverage Control. Additionally, it addresses scenarios of disapproval or inaction on the license transfer application, risk of loss before the deal's closure, binding effect, and dispute resolution through mandatory arbitration, ensuring all parties are clear on the process and their obligations. This form not only facilitates a smoother transition of ownership but also ensures compliance with legal requirements, protecting the interests of both buyer and seller in the transaction.

QuestionAnswer
Form NameLiquor License Form
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other namesof liquor license, drinking license template, liquor license, liquor license template

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Agreement for Sale of Liquor Store Business including Liquor License

Agreement made on the ___ day of __________, 20___, between ________________ of

(street address, city, county, state, zip code), referred to herein as Seller, and _______________,

a corporation organized and existing under the laws of the state of ______________, with its

principal office located at (street address, city, county, state, zip code), referred to herein as

Purchaser.

Whereas, Seller owns certain premises located at (street address, city, county, state, zip code), which real property is more particularly described as follows:

(legal description of real property)

Whereas, Seller also holds a valid liquor license issued by (the Department of Alcoholic Beverage Control), License No. ___________, with respect to the liquor store business

(hereinafter sometimes called liquor business) conducted by him on the described premises under the name of (name of business).

Whereas, Purchaser desires to buy from Seller, and Seller desires to sell to Purchaser, the described real property as well as the liquor license now held by Seller and the liquor business now conducted by Seller, together with the furniture, fixtures, stock-in-trade, and equipment, said Liquor License No. _________, the business name and all the trade and good will of the

business.

Now, therefore, for and in consideration of the mutual covenants set forth in this Agreement, the parties agree as follows:

I.Purchase and Sell.

Seller shall sell to Purchaser and Purchaser shall purchase from Seller the described real

property together with the buildings and improvements erected on the property, the liquor business located on said real property, said Liquor License No. _________, the business name

and all the trade and good will of the business, and the stock-in-trade, furniture, fixtures and equipment of the liquor business as shown in the inventory attached to this Agreement and marked Exhibit A.

II.Purchase Price.

A. The total purchase price to be paid by Purchaser to the Seller for the liquor business, real and personal property, and the assets and license described in this contract shall be $_______________ . Such purchase price is allocable as follows:

Liquor license

$_____________________

Furniture, fixtures and equipment

$_____________________

Liquor and related stock

$_____________________

Real property, including building

$_____________________

Business name and good will

$_____________________

B.The purchase price is payable in the following manner:

1.The sum of $___________ cash shall, upon the execution of this Agreement, be deposited in the escrow as described below.

2.The balance of the purchase price shall be payable by certified check to the order of Seller on the date of closing, subject to adjustments, which shall be made at the time of closing, for insurance premiums, rents, accounts for public utilities, taxes, payroll and payroll taxes.

III.Bill of Sale.

The Seller agrees to simultaneously execute in conjunction with this Agreement, a bill of

sale in the form attached hereto as Exhibit B, for the Business to be delivered to the Purchaser at the settlement provided for in this Agreement.

IV. Escrow.

The sums of money referred to above shall be deposited with (name and address of escrow agent, such as closing attorney) who shall pay over the funds to Seller at closing. If this Agreement is not consummated, the consideration deposited in escrow shall be paid out as provided in Paragraph IX of this Agreement.

V.Settlement of Accounts and the Like.

At the time of the final settlement, the Seller agrees to close out promptly all accounts for

public utilities and to immediately file all statements and accounts required under any statute of the State of ____________or ordinance of the City of ______________respecting wages and the

like.

VI. Time of Settlement.

Settlement for the sale of the Business, including the real property, building, the stock-in trade, goodwill, furniture, equipment, fixtures, and the liquor license shall take place within

______hours of the receipt of the approval of the transfer of said liquor license to the Purchaser.

At the time of settlement, possession of the real property together with the buildings and improvements erected on the property, the liquor business located on said real property, said Liquor License No. _________, the business name, the trade and good will of the business, and

the stock-in-trade, furniture, fixtures and equipment of the Business shall be given to the Purchaser.

VII. Purchaser's Warranty.

Purchaser expressly warrants to Seller that it is under no legal disability that would prevent transfer to it of the liquor license under the laws of the State of ___________and the

requirements and regulations of (e.g., the Department of Alcoholic Beverage Control).

VIII. Liquor License.

This Agreement is made subject to the further condition that transfer of the liquor license from Seller to Purchaser is approved by (e.g., the Department of Alcoholic Beverage Control). On or before (date), Purchaser and Seller shall execute and file with (e.g., the Department of Alcoholic Beverage Control) an application for the transfer of the license from Seller to

Purchaser. Purchaser shall pay all fees required by (e.g., the Department of Alcoholic Beverage Control) for such transfer.

IX.

Disapproval of or Failure to Act on Application for Transfer of Liquor License.

 

If (e.g., the Department of Alcoholic Beverage Control) refuses to transfer the liquor

license to Purchaser, or if (e.g., the Department of Alcoholic Beverage Control) fails to take action upon the application for transfer of the liquor license by (date), then this Agreement shall be null and void and all funds deposited in escrow shall be returned to Purchaser.

X.Risk of Loss.

Risk of loss or damage to the premises and personal property by fire or otherwise is

assumed by Seller until delivery of the deed and bill of sale.

XI. Binding Effect.

This Agreement shall bind the parties to it, their respective heirs, executors, administrators, successors and assigns.

XII. Mandatory Arbitration

Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect.

WITNESS our signatures as of the day and date first above stated.

 

(NAME OF CORPORATION)

________________________

By_______________________

(Name of Seller)

(Name & Office in Corporation)

Attach Exhibit

 

Acknowledgements (may vary by state)

 

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Stage # 1 in filling out of liquor store license

2. Your next step is usually to submit the next few fields: described real property as well as, Now therefore for and in, Agreement the parties agree as, Purchase and Sell Seller shall, property together with the, Purchase Price A, The total purchase price to be, and business real and personal.

Filling out part 2 of of liquor store license

3. This next part will be focused on business real and personal, and Liquor license Furniture - fill in each of these blanks.

Completing segment 3 in of liquor store license

4. This next section requires some additional information. Ensure you complete all the necessary fields - The purchase price is payable in, The sum of cash shall upon the, The balance of the purchase price, III, Bill of Sale The Seller agrees to, Escrow The sums of money referred, escrow agent such as closing, Settlement of Accounts and the, and public utilities and to - to proceed further in your process!

Settlement of Accounts and the, The purchase price is payable in, and The sum of  cash shall upon the in of liquor store license

5. This last point to finish this PDF form is essential. Make certain you fill out the appropriate blanks, and this includes Time of Settlement Settlement for, trade goodwill furniture equipment, VII, Purchasers Warranty Purchaser, prevent transfer to it of the, VIII Liquor License, This Agreement is made subject to, and from Seller to Purchaser is, prior to using the form. Failing to accomplish that can contribute to an incomplete and potentially invalid document!

of liquor store license completion process explained (step 5)

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