Document background
The Purchase And Sale Agreement Business is a fundamental transaction document used in Canadian business acquisitions and sales. It is essential when one entity wishes to acquire another entity's business operations, assets, or shares. This agreement is structured to comply with both federal and provincial Canadian legislation, including the Competition Act, Sale of Goods Act, and relevant tax laws. The document comprehensively addresses all aspects of the transaction, from initial purchase terms to post-closing obligations, including detailed schedules of assets, liabilities, and material contracts. It's particularly crucial for protecting both parties' interests by clearly defining what is being sold, the purchase price, payment terms, representations and warranties, and indemnification provisions. The agreement should be customized based on the specific transaction structure, industry requirements, and provincial jurisdiction where the business operates.
