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Sale Of Goods Agreement (Type 1)
SALE OF GOODS AGREEMENT-TYPE 1
Agreement made [Date of Agreement], between [Name of Seller], of [Address of Seller], [City of Seller], [State of Seller], in this agreement referred to as seller, and [Name of Buyer], of [Address of Buyer], [City of Buyer], [State of Buyer], in this agreement referred to as buyer.
SECTION ONE: SALE OF GOODS
Seller shall sell, transfer and deliver to buyer on or before [Date of Transfer], the following personal property: [Description of goods].
SECTION TWO: CONSIDERATION
Buyer shall accept the goods and pay $ [Amount paid for goods] Dollars for the goods.
SECTION THREE: IDENTIFICATION OF GOODS
Identification of the goods to this agreement shall not be deemed to have been made until both buyer and seller have specified that the goods in question are to be appropriated to the performance of this agreement.
SECTION FOUR: PAYMENT ON RECEIPT
Buyer shall make payment for the goods at the time when, and at the place where, the goods are received by buyer.
SECTION FIVE: RECEIPT CONSTRUED AS DELIVERY
Goods shall be deemed received by buyer when delivered to buyer at [Address of delivery], [City of delivery], [State of delivery].
SECTION SIX: RISK OF LOSS
The risk of loss from any casualty to the goods, regardless of the cause, shall be on seller until the goods have been accepted by buyer.
SECTION SEVEN: WARRANTY OF NO ENCUMBRANCES
Seller warrants that the goods are now free, and that at the time of delivery shall be free from any security interest or other lien or encumbrance.
SECTION EIGHT: WARRANTY OF TITLE
Furthermore, seller warrants that at the time of signing this agreement seller neither knows, nor has reason to know, of the existence of any outstanding title or claim of title hostile to the rights of seller in the goods.
SECTION NINE: RIGHT OF INSPECTION
Buyer shall have the right to inspect the goods on arrival and, within business days after delivery, buyer must give notice to seller of any claim for damages on account of condition, quality or grade of the goods, and buyer must specify the basis of the claim of buyer in detail. The failure of buyer to comply with these conditions shall constitute irrevocable acceptance of the goods by buyer.
In witness whereof, the parties have executed this agreement at [Designated place of execution] the day and year first above written.
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