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U.S.Legal Forms, Inc., offers legal agreement forms for virtually any legal matter. Select your area below to see the agreement forms available. The terms "Agreement" and "Contract" mean the same thing.
"Contract" - An agreement between persons which obligates each party to do or not to do a certain thing. Technically, a valid contract requires an offer and an acceptance of that offer, and, in common law countries, consideration.
"Agreement" - A contract between persons which obligates each party to do or not do a certain act. An agreement requires an offer, acceptance of the offer and consideration.
A blank purchase agreement can make a sale go smoothly and avoid costly disputes and time-consuming headaches in the future. A written agreement contract is essential, even when you trust the other party, to make sure all parties have the same clear understanding of the terms and expectations. A written contract of sale minimizes the chance of a misunderstanding or mistake about the terms of the deal, which commonly occurs in a verbal, handshake deal. It also provides evidence that can be referred to, since memories often fade over time. By creating a purchase and sale contract, the parties have a better opportunity to think over the details thoroughly, and avoid leaving out important details or making assumptions.
It's unwise to rely on a verbal deal, especially when a purchase contract can be easily downloaded and completed online for a very low cost. When there's anything of value involved, whether it's a car purchase, or something smaller, it's wise to complete a bill of sale form. If you use an as is contract, you can make it clear that no guarantees or warranties were made. A home purchase or land purchase is required by law to use a written form by a law called the Statute of Frauds. We'll take a look at some of the basic points you will want to cover in a sample contract.
1. Identity of the parties - Agreements and contracts need to identify the buyer and seller.
2. The price and payment terms - A purchase order needs to specify the price, including any extra charges, interest, and late fees. The method of payment also needs to be included. If installment payments are agreed on, the down payment, time schedule, and rate of installment payments should be described. A consumer disclosure may also be required to be provided according to state or federal laws governing retail installment sales and credit transactions.
3. Description of the goods or services - The sales agreement should specifically identify what is being sold. For instance, a car bill of sale should include the VIN number, along with the year, color, make, and model. If services are being sold, the performing person or entity should be named, along with the described services and any materials or conditions required from the buyer for performance.
4. Dates - The date of signing the agreement form and date of delivery of goods or performance of services need to be stated.
5. Warranty terms - Any guarantees need to be described, and if there are none, it needs to be clearly stated that this is an as is sale contract.
These are just the minimum sample agreement terms. The agreements and contracts offered by US Legal Forms are professionally drafted to cover the important terms and details that are appropriate to the type of transaction involved.
There are thousands of different agreements available at U.S. Legal Forms, Inc. All drafted by lawyers.