Receivable Contract With Nike In Michigan

• Category: Loans and Lending - Accounts Receivables
• State: Multi-State
• Control #: US-00402
• Format: Word; Rich Text

Description

The Receivable Contract with Nike in Michigan is a formal agreement between a Seller and a Buyer regarding the sale of accounts receivable. This contract outlines the transfer of rights and interests in specific accounts, as detailed in an attached exhibit. Key features include seller representations about account status, assurances of no existing disputes, and conditions related to the security of accounts. The form stipulates inspection rights for the buyer, allowing for due diligence before finalizing the agreement. Specific terms regarding recourse options are also included to protect the buyer's interests. For audience members such as attorneys and legal assistants, this form provides a structured approach to document sales of receivables, ensuring compliance with state laws while safeguarding the rights of both parties. It serves as a vital tool for partners and owners involved in business transactions, as it clarifies responsibilities and potential liabilities inherent in the sale of accounts receivable. Understanding how to fill out and edit this form is crucial for effective legal practice in Michigan.