Receivable Contract With Nike In Minnesota

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

Description

The Receivable Contract with Nike in Minnesota is a legal document facilitating the sale of accounts receivable from a seller to a buyer. It outlines the seller's obligations, including the sale of all rights, titles, and interests in listed accounts, along with relevant invoices and funds due. The seller confirms that all account balances are accurate and that no accounts are contested, while also addressing any secured interests. A significant feature is the provision for recourse; buyers may reconvey accounts under certain conditions if defaults occur. Additionally, a due diligence period is granted to the buyer to verify the accounts, allowing for cancellation if unsatisfactory. This form is essential for parties engaging in financial transactions, ensuring clear terms and legal protection. The target audience, which includes attorneys, partners, owners, associates, paralegals, and legal assistants, will find this document useful for structuring agreements in receivable sales, understanding legal obligations, and safeguarding against potential liabilities.