Sale of Businesses in Australia

Book excerpt: This second edition of Sale of Businesses in Australia concentrates on the sale of small businesses trading as individuals or in partnership under the standard Sales of Business contracts promulgated by the various Law Societies and Real Estate Institutes. Several chapters also apply to the sale of businesses generally.Topics covered include:matters relating to the typical transaction: stock in trade, goodwill, plant and fixtures; additional matters such as intellectual property, business names, and the transfer of business leases; special contract provisions, including restraint of trade and employee provisions, and other special conditions commonly found in contracts; taxation implications of the sale; time stipulations; obligations on completion; disclosure obligations; remedies for commonly encountered types of breach by either party.The book serves as an ideal reference point for the busy legal practitioner involved in advising upon these transactions and has extensive references to the standard contracts in New South Wales, Victoria and Queensland.