SALE OF BUSINESS AGREEMENT
BETWEEN
SAPPHIRE BEAUTY WORLD & SALON
(Vendor)
AND
CHIOMA GLORIA NWOYE OKOLO
(Purchaser)
SALE OF BUSINESS AGREEMENT
THIS AGREEMENT is made this 15th day of January, 2024
BETWEEN SAPPHIRE BEAUTY WORLD & SALON of 15b Yalinga
street, Wuse 2, Abuja, Nigeria ( hereinafter called ‘THE VENDOR’
which expression shall where the context so admits includes its Legal
Representatives and assigns) of the first part.
AND
CHIOMA GLORIA NWOYE OKOLO of 478 Morocco street Efab
Queens Estate, Gwarimpa, Abuja, Nigeria (hereinafter called ‘THE
PURCHASER’ which expression shall where the context so admits
include their heirs, personal representative, administrators, executors
and assigns) of the other part.
WHERE AS:
1. By virtue of an irrevocable power of attorney vested upon
CHIAMAKA OKENWA , the Original owner of the business
‘SAPPHIRE BEAUTY WORLD & SALON’ located at 15b Yalinga
street, Wuse 2, Abuja, Nigeria (hereinafter referred to as the
‘Business’) the Vendor became seized of the Business there on.
2. By virtue of the aforementioned, the Vendor has the powers and
right over ALL THAT business located at 15b Yalinga street, Wuse 2,
Abuja, Nigeria known and referred to herein as the ‘BUSINESS’
3. The Vendor is seized of the business hereinabove described free
of all charges, liabilities, debt and encumbrances and has agreed with
the Purchaser to sell and has sold to the Purchaser all that concerns
the Business which includes goods, furnitures, social media
presence, electrical appliances, six (6) months rent and every other
appurtenance as far as this Business is concerned for a valuable
consideration hereinafter agreed by the parties
4. The Vendor has agreed with the Purchaser to sell the Business
to the Purchaser and the Purchaser hereby agrees to buy same for
for a valuable consideration, the receipt which the Vendor hereby
acknowledges subject to the terms and conditions herein stated
And Whereas, the Purchaser in agreement with the Vendor by
virtue of this agreement is hereby the owner of the business known
as Sapphire Beauty world & salon located at 15b yalinga street,
Wuse 2, Abuja, Nigeria.
NOW THIS SALE AGREEMENT HEREBY WITNESSES AS
FOLLOWS:
1. CONSIDERATION
The sum of N6,220,000 which the Purchaser have paid to the
Vendor and receipt of which the Vendor hereby acknowledges as full
and final payment for the Business
2. The Purchaser hereby acquires full title over the said Business
and the Vendor shall immediately release/hand over all relevant
documents related to or connected with the Business to the
Purchaser
3. The Vendor undertakes to indemnify the Purchaser fully the
aforementioned purchase price and all expenses incurred against
adverse claimant, distress, actions, proceedings, costs,fees,
damages solely with regards to any false fact/deceit as at the 31st
day of January, 2024.
IN WITNESS whereof and with intension to be legally bound, the
parties hereto have hereunto executed this agreement in the manner
hereinafter appearing the day and year first above written.
The common seal of the within named Vendor is hereunto affixed in
the presence of:
———————————————————————
(Director)
Signed, sealed and delivered
———————————————————————
(Purchaser)
In the presence of Purchaser’s witness:
Name: —————————————————————
Address: —————————————————————-
Occupation:————————————————————
Signature: ————————————————————-
PRICE BREAKDOWN:
1. Total goods available as at 15th January, 2024 - N 5,170,000
2. Rent - N500,000
3. Electronic gadgets: includes Desktop computer , phone, Ups,
Scanner,receipt printer, POS - N250,000
4. Office furniture: includes 3 office chairs, office table and shelves -
N300,000
TOTAL = N6,220,000
It is worthy to note that:
1. The Air conditioner and television shall be given to my sister
for free
2. No extra cost shall be charged for training or any other thing
——————————
Amaka Okenwa
——————————
Chioma Gloria Nwoye Okolo
