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Sale of Goods

Posted by attorney Gregory Glaser

Here are some basic considerations for a 'sale of goods' agreement:

  • Identify the parties by name, contact info, and how they are entering the contract (i.e., on behalf of xyz company).
  • Describe the goods and costs. Consider creating a table including: seller’s product number, description of goods, quantity of goods to be delivered, and costs of goods per item. At the bottom of the table, include calculations for discounts, coupons, taxes, fees, shipping and handling costs. State the total contract amount at the conclusion of the table.
  • Specify payment and delivery items: delivery date, location, method.

  • Specify approved payment methods: cash, credit, check, money order, Paypal.

  • Specify payment due date, or set forth a payment schedule in table format. Highlight any inspection requirements prior to sale.

  • Consider how to allocate risk in the event of a casualty/problem.

  • Do any warranties apply?

  • Consider specifying the consequences of each party’s nonperformance. Include a procedure for resolution of disputes (i.e., arbitration).

  • Note whether there are any attachments to the agreement (i.e., specification sheets)

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