Sale of Goods Contract
A contract or agreement for sale of goods describes the terms upon which a seller and a buyer mutually agree to sell and purchase products from each other. According to the contract, the seller promises to sell specific goods to the buyer and the buyer promises to purchase these goods from the seller. The contract specifies the responsibilities and requirements of the parties and lays down the terms agreed to by them regarding the transaction.
The contract contains the terms governing price and payment. It specifies which party is to bear the risk of loss, and when and how the payments are due. Once signed, the terms of this contract binds both the parties.
Following is a portion of a sample sale of goods contract.
1. Description. Seller shall transfer and deliver to Buyer, and Buyer shall pay for and accept the following goods:
2. Time of Delivery. Buyer shall have the right to specify the date of delivery, but in no event shall the date specified be before _______________________.
3. Delivery of Lots. Buyer shall have the right to demand all of the goods at one time during the period stated hereinabove or in portions from time to time.
4. Place of Delivery. The goods shall be delivered at Seller's address mentioned herein above.
5. Method of Tender. Buyer will give notice to Seller of at least ___________ days before Buyer desires to take possession of the goods. Seller agrees that he will furnish the facilities and manpower for loading the goods on trucks furnished by Buyer.
6. Seller to Package Goods. Seller will package goods in accordance with instructions of Buyer provided instructions are furnished in sufficient time to permit Seller to complete the packaging before delivery. Buyer shall pay Seller the reasonable cost of packaging.
7. Identification Risk of Loss. Identification of the goods under the provisions of the Uniform Commercial Code shall occur at the moment this Agreement is signed by the parties. Risk of loss of the goods shall pass to the Buyer on identification.
8. Title. Title to the goods shall remain with the Seller until Buyer actually receives the goods.
9. Disclaimer of Express Warranties. Seller warrants that the goods are as described in this Agreement, but no other express warranty is made in respect to the goods. If any model or sample was shown Buyer, such model or sample was used merely to illustrate the general type and quality of the goods and not to represent that the goods would necessarily conform to the model or sample.
10. Disclaimer of Implied Warranties. THE GOODS SOLD UNDER THIS CONTRACT ARE PURCHASED BY THE BUYER "AS IS" AND THE SELLER DOES NOT WARRANT THAT THEY ARE OF MERCHANTABLE QUALITY OR THAT THEY CAN BE USED FOR ANY PARTICULAR PURPOSE.
11. Amount of Price. The price to be paid by Buyer shall be that contained on the Seller's price list last published before the date of actual delivery of the goods.
12. Time of Payment. Buyer shall pay for the goods at the time and place of delivery.
13. Right of Inspection. Buyer shall have the right to inspect the goods at the time and place of delivery before paying or accepting them.
14. Method of Payment. Payment shall be made in cash or by certified check.
15. Remedies. Buyer and Seller shall have all remedies afforded by the Uniform Commercial Code.
Remaining Form Omitted.