US Legal Forms
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Contracts
Multi-State
Accounts Receivable - Contract to Sale

Receivable Contract With Nike In Chicago

Category:

Loans and Lending - Accounts Receivables

State:

Multi-State

City:

Chicago

Control #:

US-00402

Format:

Instant download

Description

The Receivable Contract with Nike in Chicago establishes a formal agreement between the Seller and Buyer regarding the sale of accounts receivable. The Seller agrees to transfer all rights and interests in specified accounts, detailed in an attached Exhibit, including any related invoices and anticipated payments. Key features of the contract include the Seller's representation of the accounts' validity, the condition that no payments are contingent on future product deliveries, and assurance that no defenses exist against the accounts sold. Additionally, the contract allows the Buyer a specified period to inspect the accounts, with the option to cancel if unsatisfied. This contract can be particularly beneficial for attorneys, owners, and partners involved in financial transactions, as it provides a clear, legally binding framework for the sale of receivables. Paralegals and legal assistants can assist with the preparation and review of such contracts, ensuring compliance with state laws and accuracy in details. Overall, the form serves as a vital tool for legal professionals navigating receivable transactions, offering clarity and protection for both parties.

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