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The draft contract prepared by the seller's lawyer gives legal force to the agreement. A written contract ensures that both parties clearly understand what each

The draft contract prepared by the seller's lawyer gives legal force to the agreement. A written contract ensures that both parties clearly understand what each is agreeing to provide, for what cost and for what method of payment. Sellers' should consult their legal adviser and accountant for advice on the tax and legal implications to them before signing the contract. Typically, a contract will include in its schedule other items such as: Price Type of purchase Payment method Seller's involvement after purchase Restraint of trade covenant Any other conditions Special conditions All of the above

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