What Legal Documents are Used in a Business Purchase?
Arizona business purchases typically include the following legal documents: • Purchase Agreement • Escrow Agreement • Bill of Sale • Amendment to Articles of Organization • Noncompete Agreement • Consulting / Employment Agreement • Consent of Landlord to Assignment of Lease • Landlord Estoppel Certificate • Assignment of Lease • Resolutions Authorizing the Transaction • Promissory Note • Security Agreement • UCC-1 Financing Statement • Deed of Trust • Personal Guaranty The primary document that evidences an agreement to buy or sell a business (entity purchase or asset purchase) is the purchase contract. It may be called “Asset Purchase Agreement,” “Purchase Agreement,” Purchase & Sale Agreement,” “Stock Purchase Agreement” or something similar. This is the most important agreement because it sets forth the “deal points,” i.e., all the terms and conditions applicable to the sale. When I prepare documents for a business purchase, my purchase agreement includes all ancillary documents as
