BULK SALE'S AGREEMENT

                                                       Bulk Sales Contract

 

 

                l.  PARTIES.  This contract is made this __________,19___

        between ___________________ of __________________, herein called

        "Sellers," and ___________________, herein called "Buyer."

 

                2.  AGREEMENT TO SELL.  The Sellers shall sell to the

        Buyer, and the Buyer shall buy from the Sellers, all of that

        certain stock of goods, wares and merchandise belonging to the

        Sellers, and now located in the storeroom at _______________,

        together with all furniture and fixtures therein, belonging to

        the Sellers.

 

                3.  STORE CLOSED FOR INVENTORY.  Upon the execution and

        delivery of this contract, properly signed and executed, and

        the payment of the earnest money hereinafter mentioned, the store

        shall be closed temporarily, and an inventory taken immediately,

        and delivered to the Buyer, at the invoice cost $______________,

        without including transportation charges or expenses, deducting,

        however, any depreciation on account of damages, wear and tear.

 

                4.  INVOICE VALUATION OR ARBITRATION.  The goods, wares

        and merchandise and furniture and fixtures shall be inventoried

        at ___________________.

 

                5.  TIME TO COMPLETE INVENTORY.  Ten days shall be

        allowed to complete the inventories, upon which date all of the

        property shall be thereupon delivered by the Sellers to the

        Buyer.

 

                6.  DEPOIT IN ESCROW TO SECURE COMPLIANCE WITH BULK

        SALES LAW.  The Buyer, in consideration of the premises, shall,

        upon the execution of this contract, deposit in escrow in the

        _____________ Bank, the sum of $___________ as earnest money to

        bind the trade, the sum to be returned to the Buyer in case the

        Sellers fail to make good title to the property, and upon the

        consummation of the deal and the tender of the Sellers to the

        Buyer of their certain bill of sale to the property, showing that

        the Sellers have complied with all the requirements and

        conditions of the Bulk Sales Law of ________________ and that

        they will furnish to Buyer a full and complete list of all

        creditors of the store, together with the amounts due the

        creditors, that the creditors shall be immediately paid in full

        such amounts as may be due them, and that the total amount shown

        to be due by the Sellers shall be deposited in escrow in

        _____________ Bank, until all creditors of the store shall give a

        release of their claim against the store, or the individual

        members thereof, the Buyer shall pay to the Sellers the total

        amount of the invoice in cash and the payment shall be accepted

        in full payment for the property.

 

                7.  LIQUIDATED DAMAGES.  All the stipulations, agreements

        and conditions contained in this contract are to apply to and to

        bind the heirs, executors and administrators of the respective

        parties hereto, and, in case of failure, the parties bind

        themselves each to the other in the sum of $____________ Dollars,

        as fixed and settled damages to be paid by the failing party.

 

 

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