Board minutes: business purchase seller
Completion board minutes for the selling company in a business purchase transaction
Background
A corporate seller in a business purchase transaction should hold a board meeting to approve the sale and related matters. The buyer is likely to require these minutes to be produced as evidence that the seller has the authority to enter into the transaction.
The meeting should cover:
- the approval of the sale of the business and assets by the company
- the approval of the Business Purchase Agreement and its principal terms
- the approval of other documents entered into by the seller as part of the transaction
About these Board minutes
These minutes are for a meeting of the board of directors of a selling company in a business purchase transaction.
Document features
Features include:
- Declaration of director’s interest (if applicable)
- Resolutions
- to approve the sale by the company of its business and assets and the principal terms of the transaction
- to approve the Business Purchase Agreement and other documents to be entered into by the seller as part of the transaction
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