Colorado Conditional Sales Contract
Description
How to fill out Conditional Sales Contract?
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FAQ
A conditional contract is an agreement or contract conditional upon a specific event, the occurrence of which, at the date of the agreement, is uncertain. A common example is a contract conditional upon the buyer getting planning permission.
For example, a small business owner might insist that a potential employee of a particular race take a drug test and pass a background check. Similarly, they could demand that an older adult take a physical examination as a condition of employment.
How does the Colorado Contract to Buy and Sell Real Estate Residential address special taxing districts? Alerts the buyer to the fact that there may be a local government entity that can assess taxes that the buyer should be aware of.
An example familiar to many is a financing contingency in a real estate contract. The condition states that the completion of the sales agreement will occur only if the buyer is able to obtain financing. Therefore, if the buyer does not obtain financing, the sale will not close.
Some contracts contain 'conditional clauses', which mandate that certain events must occur or conditions be fulfilled before the contract is binding or enforceable.
A conditional sale refers to a transaction in which the purchaser receives possession of and the right to use certain goods, but the title remains with the seller until the performance of a condition is met by the buyer.
A conditional contract, also called a hypothetical contract, is a contract agreement that only requires performance once the delineated conditions are met. This legal agreement requires prior performance of another agreement or clause in order to be enforceable.
Also known as a sale on satisfaction or sale on trial, a sale on approval contract regulates the conditional sale of goods made on a trial basis. Sellers use this contract to induce sales that buyers may not be enthusiastic about, while buyers use it to examine and inspect goods they may not otherwise buy.