The above parties have entered into this sales and purchase agreement (the “Agreement”) on the terms stated below:
1.1 Seller shall deliver to the Buyer the following goods:
LIST OF GOODS AND QUANTITY
2.1 Buyer shall pay to Seller for the goods and for all obligations specified herein, as full and complete consideration, therefore, the sum of AMOUNT and CURRENCY, which sum includes VAT, packing and shipment expenses.
3.1 Delivery of the goods to Buyer by Seller shall be done on or before DATE.
3.2 The goods shall be packed appropriately and must be delivered to Buyer without being damaged. Buyer must be reasonably able to identify easily all of the goods.
4.1 The risk of loss from any casualty to the goods, regardless of the cause, shall be incurred by BUYER OR SELLER until the goods have been delivered to the Buyer.
4.2 Delivery shall be deemed to have happened upon E.G. WHEN ONBOARD RELEVANT TRANSPORTATION.
5.1 Buyer shall inspect the goods upon receipt, and within NUMBER business days after delivery, Buyer shall give notice to Seller of any claim for damages on account of condition, quality, or grade of the goods.
6.1 Seller warrants that the goods sold hereunder are free from defects in workmanship and materials. Seller’s liability under the foregoing warranty is limited to replacement of goods or repair of defects or refund of the purchase price at Seller’s sole option. No other warranty, express or implied, is made by Seller, and none shall be imputed or presumed.
7.1 Seller warrants that Seller at the time of signing this Agreement, Seller has full right and title to sell the goods and that Seller neither knows nor has reason to know of the existence of any outstanding title or claim of title hostile to rights of the Seller in the goods.
8.1 This Agreement shall be governed by the laws of COUNTRY. Any disputes under this Agreement shall be held in the court located in COUNTRY, CITY.
9.1 Seller may, without liability, delay performance or cancel this Agreement on account of force majeure events or other circumstances beyond its control, including, but not limited to, strikes, acts of God, political unrest, embargo, failure of source of supply, or casualty.
10.1 This Agreement contains the entire understanding between the parties and supersedes and replaces all such prior agreements with respect to matters expressly set forth herein. No modification shall be made to this Agreement except in writing and signed by both parties. This Agreement shall be binding upon the parties and their respective heirs, executors, administrators, successors, assigns and personal representatives. No party shall be allowed to assign this Agreement and rights hereunder.
A binding legal agreement detailing a transaction between a seller and a buyer. Or in good old English, a purchase or a sale.
A classic example is real estate. But these agreements will often be used when there is a large cost or quantity being purchased. It can also be to detail a revolving purchase, such as a monthly purchase over a given period of time.