VEHICLE SALES AGREEMENT THIS VEHICLE SALES AGREEMENT is made this day of _, 20 _, by and among _______ ________________ (hereinafter known as "Seller") and ___ _ __________, (hereinafter known as "Buyer"). Buyer and Seller shall collectively be known herein as "the Parties". BACKGROUND WHEREAS, Seller desires to sell the vehicle described below, known herein as the "Acquired Vehicle", under the terms and conditions set forth below; WHEREAS, Buyer desires to purchase the Acquired Vehicle offered for sale by Seller under the terms and conditions set forth below; and, therefore, TERMS AND CONDITIONS IN CONSIDERATION of the mutual promises and other valuable …show more content…
E. Buyer 's Responsibility −− Insurance and Tags. Buyer acknowledges that unless prohibited by applicable law, any insurance coverage, license, tags, plates or registration maintained by Seller on the Acquired Vehicle shall be canceled within from the date the Acquired Vehicle is delivered, and the acceptance of, by Buyer. F. Continuation of Representations and Warranties. All representations and warranties contained in this Agreement (if any) shall continue in full force and effect after execution of this agreement. If either party later learns that a warranty or representation that it made is untrue, it is under a duty to promptly disclose this information to the other party in writing. No representation or warranty contained herein shall be deemed to have been waived or impaired by any investigation made by or knowledge of the other party to this Agreement. G. Indemnification of Attorney Fees and out-of-pocket costs. Should any party materially breach this agreement (including representations and warranties made to the other side), the non-breaching party shall be indemnified by the breaching party for its reasonable attorney fees and out-of-pocket costs which in any way relate to, or were precipitated by, the breach of this contract (including the breach of representations or warranties). This provision shall not limit in any way the
NOW, THEREFORE, in consideration of the mutual promises herein set forth and subject to the terms and conditions hereof, the parties agree as follows:
A dealer sold a new car to Raymond Smith. The sales contract contained language expressly disclaiming liability for personal injuries caused as a result of defects in the car and limiting the remedy for breach of warranty to repair or replacement of the defective part. One month after purchasing the auto, Smith was seriously injured when the car veered off the road and into a ditch as a result of a defect in the steering mechanism of the car.
Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.
National Surety justifies its disregard of the Waivers because—it contends—WCS forfeited its right to enforce the Waivers upon the execution of the 2007 settlement agreement. This position, however, is couched on the mistaken premise that the Waivers are “rights, claims, debts, liens, demands, [or] actions of any nature whatsoever.” (Appellant’s Brief at p. 9). To the contrary, the Waivers bargained for in the AIA Contract operate as immediate discharges of Metropolitan’s right to pursue claims that are covered by insurance. Accordingly, the Waivers are units of consideration that Metropolitan tendered when the AIA Contract was executed. Therefore, irrespective of whether the 2007 settlement is a substitute contract—it is not—the
A liability for costs to terminate a contract before the end of its term shall be recognized when the entity terminates the contract in accordance with the contract terms (for example, when the entity gives written notice to the counterparty within the notification period specified by the contract or has otherwise negotiated a termination with the counterparty).
u. P2) This implies that the seller who intends to enter a contract with a customer has a duty to disclose exactly what the customer is buying and what the terms of the sale are.
Accordingly, Licensee agrees to indemnify and hold Licensor harmless from and against any and all claims, losses, damages, costs, expenses, including, without limitation, reasonable attorney's fees, arising of or resulting from a claimed breach of any of Licensee's representations, warranties or agreements hereunder.
The seller requires preparing this legal instrument and give one duly signed copy to the buyer.
According to the Buyer's closing attorney, she has informed the Buyer either one of the two below must be available: (I'm going by what the Buyer is telling me from what he has heard from the closing attorney)
IN CONSIDERATION OF THE COVENANTS and agreements contained in this Sales Agreement the parties to this Agreement agree as follows:
They went ahead to confirm their verbal agreement by paying an amount that partly makes them show desire to purchase the automobile. In return, with mutual understanding the salesman keeps the car and calls them to confirm if the purchase would be completed. A contract that is legally binding does exist here. There are factors in this scenarios that show a legally binding agreement is in existence.
Section 103 of the Code allows the mortgagor to nominate a person who will buy the goods for a price at or above the estimated value specified by the creditor, and the creditor provider must then sell the goods to that person.
21. A business purchases a truck by signing a note payable to the seller. Such a transaction would include a:
A contract is a legally binding agreement and a term is a component of a contract and it is crucial to determine the classification of term being adopted because if there is a breach of a term it will bring about conditions of breach of contract. Different terms carry more severe consequences in contrast to others, therefore the contract may be repudiated or damages awarded. However, terms in insurance contracts are treated differently and further to this, the law around terms in insurance contracts has undergone recent legislation. This essay will critically analyse and compare the differences between warranty terms in insurance contracts and non-insurance contracts, evidencing with case law, establishing the legal principles surrounding them and their components. Additionally, this essay will address the introduction of the Insurance Act 2015 and its effect on insurance contract warranties, which can be seen as a new initiative to make insurance warranties fairer.
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