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Bulk Sales Contract
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.
______________________________ ____________________________
Form 336
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