Agreement for Sale of Liquor Store Business including Liquor License at a glance
What it is: Agreement for Sale of Liquor Store Business including Liquor License, under which Seller shall sell to Purchaser the described real property, the liquor business, said Liquor License No. and the business name.
Who signs: Seller signs under Name of Seller. The corporation signs by Name and Office in Corporation, under NAME OF CORPORATION.
A filled-in Agreement for Sale of Liquor Store Business including Liquor License example: a corporation buys a liquor store
How to fill out Agreement for Sale of Liquor Store Business including Liquor License, box by box
Agreement made on the day of, between Seller and Purchaser
Agreement made on the day of, 20, between Seller, of the street address, city, county, state and zip code you enter, and Purchaser, a corporation organized and existing under the laws of the state you enter, with its principal office located at the street address, city, county, state and zip code you enter.
The premises and the liquor license
Whereas, Seller owns certain premises located at the street address, city, county, state and zip code you enter, with the 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 conducted on the described premises under the name of the business.
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, 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 as shown in the inventory attached to this Agreement and marked Exhibit A.
II. Purchase Price
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 the sum you enter. Such purchase price is allocable as follows:
Liquor license, Furniture, fixtures and equipment, Liquor and related stock, Real property, including building, and Business name and good will.
B. The purchase price is payable, III. Bill of Sale and IV. Escrow
The purchase price is payable in the following manner: the sum of cash shall, upon the execution of this Agreement, be deposited in the escrow.
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.
The Seller agrees to simultaneously execute in conjunction with this Agreement a bill of sale in the form attached as Exhibit B, for the Business to be delivered to the Purchaser at the settlement.
The sums of money shall be deposited with the name and address of the 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.
Settlement of Accounts, Time of Settlement and Purchaser's Warranty
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.
Settlement shall take place within the number of hours you enter 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, the liquor business, said Liquor License No., the business name, the trade and good will of the business, and the stock-in-trade, furniture, fixtures and equipment shall be given to the Purchaser.
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).
Liquor License transfer and Disapproval of the application
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, and Purchaser shall pay all fees required by (e.g., the Department of Alcoholic Beverage Control) for such transfer.
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.
NAME OF CORPORATION, Name of Seller and Name and Office in Corporation
Seller signs under Name of Seller. The corporation signs by Name and Office in Corporation, under NAME OF CORPORATION.
Attach Exhibit. Acknowledgements (may vary by state).
More rules for Agreement for Sale of Liquor Store Business including Liquor License
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.
This Agreement shall bind the parties to it, their respective heirs, executors, administrators, successors and assigns.
Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties. 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.
Sources
[1] Agreement for Sale of Liquor Store Business including Liquor License (the served file; no issuer file found) (the Official source link on this page).