1
AGREEMENT
FOR THE SALE OF A BUSINESS
between
……………………………..
and
……………………………….
1 DEFINITIONS
In this agreement, unless the context otherwise requires, the following words and
expressions shall have the meanings assigned to them hereunder:
1.1 “effective date accounts” shall mean the financial statements of the Seller
for the period ending on the day immediately
preceding the effective date;
1.1 "the Act" shall mean the Companies Act, No.61 of 1973,
as amended;
1.3 "the business" shall mean the business conducted by the
Seller of at the
premises as constituted by the sale assets and
the leased assets;
1.4 "closing date" shall mean the first business day after the
fulfilment (or waiver) of the last of the conditions,
or such other date as may be mutually agreed
amongst all of the parties in writing;
1.5 "condition" shall mean the suspensive condition to which
this agreement is subject as set forth in clause 2
below;
1.6 "debtors" shall mean the claims of the Seller against the
debtors of the business as at the effective date;