Sales Agreement Contract Law

Topics: Contract, Warranty, Implied warranty Pages: 6 (1336 words) Published: December 11, 2012
Sales Agreement

THIS SALES AGREEMENT (the "Agreement") dated this 12th day of March 2012


|Brenda’s Widgets, Inc. (BWI) of 123 Main St., Podunk, Iowa | |(the 'Seller') | |OF THE FIRST PART | |- AND - | |Jim Doe of 456 First St., Secondville, Michigan | |(the 'Purchaser') | |OF THE SECOND PART |

IN CONSIDERATION OF THE COVENANTS and agreements contained in this Sales Agreement, the parties to this Agreement agree as follows:

Sale of Goods
1. The Seller will sell, transfer and deliver to the Purchaser on or before June 1, 2007, the following goods (the 'Goods'): 10,000 widgets

Purchase Price
2. The Purchaser will accept the Goods and pay for the Goods with the sum of fifty thousand ( $50,000.00 ) USD, paid as follows: a. down payment of $5,000.00 on March 13, 2012; and
b. the remainder of the purchase price after goods are delivered

3. The Seller and the Purchaser both acknowledge the sufficiency of this consideration. In addition to the purchase price specified in this Agreement, the Purchaser agrees to pay all shipping costs associated with transporting Goods to be delivered to 456 First St., Secondville, Michigan.

4. Payment for the Goods will be made to the Seller when the Purchaser is notified that the Goods have been delivered by the Seller to a carrier for shipment to the Purchaser or, in the alternative, when any document of title or registrable bill of sale, bearing any necessary endorsement, is tendered to the Purchaser.

Delivery of Goods
5. The Goods will be deemed received by the Purchaser when delivered to the Purchaser at 456 First St., Secondville, Michigan. The method of shipment will be at the discretion of the Purchaser. 6. Risk of Loss

Risk of loss will be on the Purchaser from the time of delivery to the carrier. The Purchaser will provide at its expense insurance on the Goods insuring the Seller's and the Purchaser's interest as they appear, until payment in full to the Seller.

7. THE GOODS ARE SOLD 'AS IS' AND THE SELLER EXPRESSLY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. The Seller does not assume, or authorize any other person to assume on the behalf of the Seller, any liability in connection with the sale of the Goods. The Seller's above disclaimer of warranties does not, in any way, affect the terms of any applicable warranties from the manufacturer of the Goods.

8. The Purchaser has been given the opportunity to inspect the Goods or to have it inspected and the Purchaser has accepted the Goods in its existing condition. Further, the Seller disclaims any warranty as to the condition of the Goods.

9. Title to the Goods will remain with the Seller until delivery and actual receipt of the Goods by the Purchaser or, in the alternative, the Seller delivers a document of title or registrable Bill of Sale of the Goods.

Security Interest
10. The Seller retains a security interest in the Goods until paid in full.

11. Inspection will be made by the Purchaser at the time and place of delivery.

12. The Purchaser's failure to give notice of any claim within 10 days from the date of delivery will constitute an unqualified acceptance of the Goods and a waiver by the...
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