Accounts Receivable Contract Formula In Michigan
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract Formula in Michigan is a legal document utilized for the sale of outstanding accounts receivable from a seller to a buyer. This contract ensures that the seller transfers all rights, titles, and interests in specified accounts, as outlined in an attached exhibit. Key features include seller representations about the accounts, warranty of no existing defenses or claims, and provisions detailing whether the sale is with or without recourse. Users must fill in specific details such as buyer and seller names, dates, and descriptions of the accounts. Additionally, buyers are granted a limited inspection period to assess the accounts before finalizing the purchase. This contract is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants involved in business transactions, as it provides a clear framework for the transfer of accounts and mitigates potential disputes. It is essential to follow filling instructions carefully to ensure compliance with Michigan law and protect the interests of all parties involved.
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