Accounts Receivable Contract With Credit Card In Michigan
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Credit Card in Michigan is a legal document facilitating the sale of accounts receivable between a Seller and a Buyer. Key features include the Seller's representation of the accounts as free of contingencies, ensuring all goods or services have been delivered, and stating the true balance and details of each account. The contract outlines specific terms regarding payment collection, including provisions for accounts sold with or without recourse, which affects the Seller's obligations if accounts default. Buyers are given a specific period to inspect the accounts and may cancel the contract if not satisfied. Utility for the target audience includes enabling Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants to efficiently transfer accounts while minimizing risks associated with outstanding debts. This document streamlines the receivables sale process and helps ensure both parties understand their rights and obligations within the state's legal framework.
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