Generally, the “as-is” condition emphasizes the current state of the asset under consideration and specifies that no guarantees or warranties come with the sale.
In addition, it serves to protect both the seller and buyer of a business in the event of a future dispute.Įxecuting a business bill of sale form usually comes with the agreement to sell the business “as-is”. Thus, the business bill of sale form usually carries more significance than the normal sale receipt. The seller of a business normally drafts this document, and it specifies the details of the arranged transaction.
Generally, a Bill of Sale helps facilitate a broad range of dealings like the sale of motor vehicles, houses, etc. A Business Bill of Sale Form is a legal document that details the transfer of ownership of a business from an individual or entity to another based on an agreed-upon set of terms.
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