Common Terms Agreement Vs Facility Agreement In Houston

• Category: Contracts - Retail Installment
• State: Multi-State
• City: Houston
• Control #: US-002WG
• Format: Word; Rich Text

Description

The document outlines a Retail Installment Agreement, which can be contrasted with a Common Terms Agreement and a Facility Agreement in Houston. This form details the purchase price, interest payment terms, and late fees associated with the installment plan. It specifies the rights of the seller in case of events of default by the purchaser, which include failure to make payments or transfer of collateral ownership. Key features include a purchase money security interest granted by the purchaser to the seller, outlining remedies available to the seller in case of default. The document emphasizes the need for modifications to be made in writing and states governing law provisions. For attorneys, partners, owners, associates, paralegals, and legal assistants, this form is essential for structuring retail transactions, ensuring compliance, and safeguarding parties' interests. Users are advised to complete each section clearly, ensuring that details are accurate and comply with state laws for enforceability.