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Contract for Sale of Used Equipment
AGREEMENT made this ________ day of ________ [Month] 20 __, between ______________ [Name] of _______________, City of _________, State of ____, hereinafter referred to as Seller, and ________________ [Name] of _______________, City of _________, State of ____, hereinafter referred to as Buyer, agree:
01. Buyer wishes to buy from Seller and Seller wishes to sell to Buyer certain used equipment as described below and attached to this contract marked exhibit "A".
[description: make, model, year, serial number].
02. Purchase Price. The agreed purchase price of said used equipment is $------, payable on delivery by direct bank deposit or certified check drawn upon a local bank.
02. Seller's Representations and Guarantees. Seller and Buyer acknowledge the following statements and guarantees, which shall continue after close of sale:
(a) Seller is rightful owner of said equipment and has the lawful right to dispose and transfer it to buyer.
(b) Seller states that there is no lien, caveat or encumbrance on said equipment; and that title is free of any legal impediment.
(c) Seller acknowledges that he/she is not insolvent nor bankrupt and there is no outstanding monies owing on said equipment.
(d) Inspection of equipment. Seller will allow Buyer the right to inspect said equipment prior to taking delivery and making compensation of payment.
(e) Seller will store said equipment on behalf of Buyer until such time of delivery to Buyer.
(f) Seller acknowledges that he/she has owned said equipment from the ________ day of ________ [Month] 20 __.
(g) Seller is selling said equipment in "As Is" condition with faults if any. Buyer accepts said equipment in its present condition.
03. Delivery of the equipment. The equipment will be delivered to Buyer at _______ [address], on the ________ day of ________ [Month] 20 __. At such time, Seller will make good on necessary legal documents required by law to transfer all rights and ownership of said equipment to Buyer.
04. Further Assurances. From time to time each party shall execute and deliver such further instruments and shall take such other action as any other party may reasonably request in order to discharge and perform their obligations and agreements hereunder and to give effect to the intentions expressed in this Agreement.
05. Breach and Waiver. Should either party incur any expense or legal fees as a result of the breach of any portion of this Agreement by the other party, the Court shall award reasonable attorney's fees and suit expenses to the non-defaulting party which are reasonably incurred. No breach, waiver, or default of any of the terms of this agreement shall constitute a waiver of any subsequent breach or default of any of the terms of agreement.
06. Severability. Should any Court hold that any portion of this agreement is invalid, the remainder shall be in full force and effect, and the invalid portion shall be struck from the agreement or modified as the Court shall order.
07. Representations. Neither party has made any representations nor promises, other than those contained in this agreement or in some further writing signed by the party making the representation or promise.
08. Complete Agreement of the Parties. This is the complete agreement of the parties and it supersedes any agreement that has been made prior to this agreement.
09. Binding. This Agreement shall be binding both of the parties hereto.
10. Number and Gender. Whenever the singular number is used in this Agreement and when required by the context, the same shall include the plural. The masculine gender shall include the feminine and neuter genders, and the word "person" shall include a corporation, firm, partnership, or other form of association.
11. Force Majeure. Seller shall be excused from performing any of Seller's obligations under this Agreement that are prevented or delayed by any occurrence not within Seller's control, including, but not limited to, destruction or damage to the goods or Seller's manufacturing plant, strikes or other labor disputes, floods, fire, accidents, riots, explosions, or any regulations, rules, ordinances, or orders of any governmental authority: federal, state, or local.
12. Governing Law. The parties hereby expressly acknowledge and agree that this Agreement is entered into in the State of [STATE] and, to the extent permitted by law, this Agreement shall be construed, and enforced in accordance with the laws of the State of [STATE].
13. Entire Agreement. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
14. Executed on the day and date first above written, at City of ________ State of ________.