Docstoc Legal Agreements
This Sale of Goods Agreement is used for the sale of goods by a seller to a buyer. This
document contains terms intended to best protect and serve interests of both parties
including a description of the goods, the purchase price and a right of inspection. This
agreement contains a warranty that the seller owns the goods and has the right to transfer
them. It contains no other warranties and expressly states that the goods are sold "as is".
This document is useful to parties located in Michigan seeking to purchase or sell goods.
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SALE OF GOODS AGREEMENT
THIS SALE OF GOODS AGREEMENT (“Agreement”) is made ____ [Month] ____ [Date],
20____ between _______________________ [Instruction: Insert the name of Company], a
company registered under ___________________________ [Instruction: Insert the State
Company Act under which it is registered], and having its registered office at
________________________________ [Instruction: Insert the address of Company],
hereinafter referred to as 'Seller' of the One Part and ________________________________
[Instruction: Insert the Name of Company], a company registered under the
_________________________ [Instruction: Insert the State Company Act under which
Company is registered] and having Its registered office at _____________________________
[Instruction: Insert the Address of Company], hereinafter referred to as 'Buyer' of the Other
1. Sale of Goods [Instruction: Choose any one clause below]
Seller shall sell, transfer and deliver to Buyer, the following personal property:
(hereinafter the “Goods”) [Instruction: Insert the description of the Goods].
Seller agrees to sell, transfer and convey to Buyer, and Buyer agree to purchase the tangible
personal property listed under Exhibit A (hereinafter the “Goods”) attached hereto.
[Instruction: List the Goods to be transferred or sold by the Seller in the Exhibit A
attached at the end of this document]
Buyer shall accept the Goods and pay _________ ($____) [◊ Instruction: Insert the
Purchase amount, e.g., two hundred fifty thousand dollars ($250,000)] for the Goods,
subject to Buyer's right of inspection as set forth in Section 4 below.
3. Interest Rate
Interest rate on all late payments of the purchased price shall be equal to _________ percent
(__ %), or the maximum rate allowed by law, of the overdue balance amount each month.
4. Right of Inspection
The Buyer shall have the right to examine the Goods on receipt, and has ____ (__) [◊ Four
(4)] business days to notify Seller of any claim for damage on account of the condition, grade
or quality of the Goods, and must specify the basis of his/her claim in detail. The failure of
Buyer to comply with these rules shall constitute irrevocable acceptance of the Goods.
5. Transfer of Title
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