A sales agreement is a legal contract in which property, goods, or services are transferred from the seller to the buyer. It can also be described as a sales contract that evidences the transfer of ownership and possession of a tangible item or good from one person or entity to another person or entity in exchange for an agreed upon compensation, or a contract that creates an entitlement in an individual or entity to a service to be performed by another person or entity in exchange for an agreed upon compensation.
Though a written sales agreement is not required in many types of transactions, it is highly advisable to put at least the most important terms of the agreement between the parties in writing to avoid misunderstandings and confusion as once signed the contract creates legally enforceable obligations on behalf of the parties. It is important that the contract is well-drafted and detailed to assure that the duties the parties are agreeing to are in fact those that the parties understand they are agreeing to. The agreement should outline the terms both parties agree to meet as part of the transaction. Sales agreements are often used in real estate or property transactions, though they can also appear in other areas.
Find documents, information, templates and other resources to help you create an effective and solid sales agreement or sales contract here.