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Asset Purchase Agreement - Mississippi

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The document is an Asset Purchase Agreement between a Mississippi corporation and its sole shareholder, outlining the terms for the sale and purchase of specific assets related to a foundation and structural repair business. It details the assets being sold, the purchase price, payment terms, responsibilities for taxes and utility services, warranties, indemnifications, and conditions for closing. The agreement also includes provisions for a Covenant Not to Compete, training obligations, and the transfer of construction records.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can I write my own purchase agreement?

Some states, like California, have created real estate purchase agreements you can download and change. You can also get a template from PandaDoc, as well as benefiting from real estate contract management software functionality.

How do you write a simple purchase agreement?

A basic purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.

Is an asset purchase agreement legally binding?

An APA is a legally binding contract that outlines the terms and conditions of the sale of a businesss assets versus a stock purchase).

What makes a purchase agreement legally binding?

A purchase agreement is a legal document that is signed by both the buyer and the seller. Once it is signed by both parties, it is a legally binding contract. The seller can only accept the offer by signing the document, not by just providing the goods.

How does an asset purchase agreement work?

When utilizing an APA, the buyer can pick and choose which assetsand which liabilitiesthey would like to assume from the seller. This differs from a stock purchase agreement, in which the buyer acquires all of the shares in a company along with all of its assets and liabilities.