Section 24 Sale of Assets Transaction

• Library: Bus Trans 2005

In addition to the representations and warranties common to all transactions, the representations made in a sale of assets transaction are usually made in the following areas:

• Whether the seller owns and has good title to the assets being sold, free and clear of all claims, liens, mortgages, and other encumbrances and whether the seller may, between the date of the asset sale agreement and the closing, encumber these assets

• Whether any equipment being sold is in good operating condition and repair...