Sale of Business Concern Kogeth or with Goodwill,
Stock-in-Trade, Fixtures and Book Debts
THIS SALE is made the . . . . . . . . . day of. . . . . . . . ., 20 . . . . ., BETWEEN A. B., aged . . . . . . . . ., etc., (hereinafter called ‘‘the Seller’’) of the one part AND C. D., aged . . . . . . . . ., etc., (hereinafter called ‘‘the Purchaser’’) of the other part.
WHEREAS the said A. B. had agreed with the said C. D., that the former would sell and the latter would buy the goodwill, stock-in-trade, fixtures and book debts of the business of . . . . . . . ., carried on by the said A. B., under the said name and style at . . . ., as a going concern for the sum of Rupees . . . . . . . (Rs. . . . . . ) only.
NOW THIS SALE WITNESSES that in consideration of the said sum of Rupees . . . . . . . (Rs . . . . . .) only, paid by the said C. D. to A. B., receipt whereof the said A. B. hereby acknowledges, he, the said A. B., as absolute and sole owner DOES HEREBY ABSOLUTELY SELL AND TRANSFER unto the said C. D., his heirs, executors and assigns ALL the beneficial interest and goodwill of the said business of the firm of . . . . . . . . . . . ., with all its stock-in-trade, fixtures and effects in or upon the premises and pertaining thereto as lately carried on by the said A. B. AND ALSO ALL the book and other debts now due and owing to the said A. B., upon account or in respect of the said trade or business and all securities for the same and also all contracts and engagements, benefits and advantages which have been entered into by the said A. B. or to which he is or can be entitled on account or in respect of the said business or firm, TO HOLD the same unto the said Purchaser absolutely without any interruption or hindrance by the said A. B. or any person claiming through or in trust for him. AND the said Seller covenants with the Purchaser that he, the said A. B., shall not either by himself or with any other person do or cause to be done any wilful act, deed or thing to the prejudice of the said trade or business of the said firm, but will whenever required by the Purchaser render every assistance and give all necessary evidence for the purpose of recovering, realising or otherwise enforcing payment of all or any of the said trade debts and vesting the absolute ownership thereof in the said Purchaser, AND the said Purchaser does hereby covenant with the Seller that he will at all times hereafter save harmless and keep indemnified the said Seller and his estate and effects from and against all losses, costs, damages, charges and expenses which may be incurred by or by reason of any action or other proceeding which shall or may be brought or instituted against the Purchaser for or in respect of the said goodwill, stock-in-hand, effects and premises or for or in respect of the recovery of the several sums of money which by the said books appears to be due and owing from the said A. B. in respect of the said business and also from and against the contracts and engagements to which by the said books the said A. B. appears, to be now liable and also all interests, costs, expenses, losses, claims and demands on account of the same debts, contracts and engagements respectively or otherwise in relation to the premises. AND it is hereby also mutually agreed that the expressions ‘‘the Seller’’ and ‘‘the Purchaser’’ whenever used shall be given the fullest scope and the widest meaning and shall include the heirs, successors, representatives and assigns of the parties as the parties themselves.
IN WITNESS whereof the said A. B. has hereto signed at. . . . . the day and the year first abovementioned.
Witness: Sd. A. B.