Purchase Agreement Example

2021-07-12 03:27:24
6 pages
1525 words
University/College: 
Harvey Mudd College
Type of paper: 
Critical thinking
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THIS PURCHASE AGREEMENT MADE on the . day of September 2017 BETWEEN OUTSIDE SETTINGS COMPANY (Purchaser), a profitable corporation 224 F. Concord Street, Orlando, Florida and .... (Manufacturer) a corporation of Address., and in adherence with the UNIFORM COMMERCIAL CODE OF FLORIDA CAP 672 agree to the following terms in regards to the purchase of furniture:

Description of Goods: The Manufacturer agrees to transfer and deliver to the Purchaser on or before (Date Agreed by both Parties) on the furniture described below:

Purchasers Obligations and Rights:

The Purchaser agrees to accept and pay for the furniture under the following terms:

The furniture is in the deliverable state as described by the purchaser in paragraph 1

In full upon receipt and verification of the furniture

In installments upon agreement with the Manufacturer in a separate installment sale contract dated. between the Purchaser and Manufacture

The Purchaser has a right to refuse to pay for the goods if the Manufacturer fails to deliver the goods within 7days after the acceptance to do so.

The Purchaser has the right to examine the furniture upon receipt and within 14 days can return the goods if any damage on the quality, grade, condition, or quantity is claimed following the examination (Wade, 2013).

The Purchaser has the right to revoke or refuse to accept the goods delivered by the Manufacturer if the latter failed to communicate amicably on the acceptance of the offer via the medium of communication used by the Purchaser.

In the case a situation in the paragraph above, NO DAMAGES shall be claimed by the Manufacturer and the Purchaser SHALL HAVE NO CONTRACTUAL OR TORTIOUS LIABILITY to any damages on the goods so delivered.

Manufacturers Obligations. All risks and loss to the goods (furniture) transferred shall belong to the Manufacture until the goods are accepted by the Purchaser through payment of the consideration agreed upon (Easterbrook, & Fischel, 2015). The Manufacturer warrants that the goods have no security interests, encumbrances or liens attached to them.

Dispute Resolution: In case of any dispute, the Parties shall first resort to arbitration within 30 days of a disagreement. The arbitration award shall be fully binding and enforceable unless either Party launches a complaint with 14 days after the issue of the award challenging the same in a Federal Court in Florida.

Choice of Law: The laws of the State of Florida govern this Agreement and any issues or dispute arising hereunder. In the case of a shipping dispute, the practices of international deep-water commerce apply subject to Section 2-323 of the UCC Code.

IN WITNESS WHEREOF: The parties involved have hereto agreed on the respective day, month and a particular year as prescribed in this written document.

SIGNED by the said ..(CEO, Outside Settings Company).. Date.

In the Presence of. Date.

SIGNED by the said... (CEO Manufacturers Company) Date

In the Presence of Date.

(B)

SALE AGREEMENT BETWEEN

OUTSIDE SETTINGS COMPANY

AND

.

THIS SALE AGREEMENT MADE on the . day of September 2017 BETWEEN OUTSIDE SETTINGS COMPANY (Seller), a profitable corporation 224 F. Concord Street, Orlando, Florida and .... (Buyer) of Address., and in adherence with the UNIFORM COMMERCIAL CODE OF FLORIDA CAP 672 agree to the following terms and conditions in regards to the purchase of custom-built furniture:

The Buyer describes the goods and confirms the description in case of any changes within 7days of the placement of the order.

Acceptance: On the expiry of the 7 days in (A) above, the Seller shall assume full acceptance of the design prescribed by the Buyer at the first instance of the placement of the order.

Payment:

The Buyer shall pay half of the purchase price agreed on the date of placement of the order or within ...7...days in (A) above to enable the Seller custom-built the goods.

Unless otherwise agreed in a separate Payment Contract dated. month. year, the Buyer has the obligation of paying the remaining balance upon delivery failure to which 30% increment shall be subjected buying price.

The Seller has the right to sue for payment 14...days after deliver due to the Customers refusal to pay.

Cancellation and Return Policy (s. 2-327): The Buyer can only cancel the request for a custom-built furniture within the 7days as prescribed in (A) above through a NOTICE duly signed by the Buyer.

In the case of cancellation on the expiry of the specified period, the Buyer shall be liable to pay the full buying price agreed between him/her and the Seller.

In case of the Sellers inability to deliver the customized furniture, the Seller should communicate within the said seven days and refund in full any deposit given by the buyer.

The Seller can demand up to a 50% increment on the buying price if the Buyer cancels the order upon delivery.

SIGNED by the said (Sales officer) Date.

In the Presence of. Date.

SIGNED by the said(Buyer) Date

In the Presence of Date.

(C)

E-SALES CONTRACT BETWEEN

OUTSIDE SETTINGS COMPANY

AND

 

THIS E-SALE AGREEMENT MADE on the . day of September 2017 BETWEEN OUTSIDESETTINGSCOMPANY.COM (Seller), a profitable corporation 224 F. Concord Street, Orlando, Florida (email address) and .... (Buyer) of Address (Both Physical and email) . Credit Card Number, and in adherence with the FLORIDA E-COMMERCE LAWS agree to the following Terms and Conditions in regards to the purchase of custom-built furniture:

Scope: E-Sale Agreements covers the sale of products via the Internet, OS Company website or any other online system. It also includes any other related businesses covered online in order to improve or support sales.

Description of Goods: The Seller agrees to transfer and deliver goods on (date) with the following description:

Products: Only the products available at OUTSIDESETTINGS.COM are available for sale unless enquired otherwise through the Sellers email. Therefore, ordering the wrong product warrants the Buyer a fine equal to 30% purchase price of the said product. This amount is retrievable via a lawsuit.

Orders and Delivery: Orders are made using the website or through the Sellers email address. The delivery shall be at the Physical address given at the Title of this E-Sale Contract. Inclusion of a wrong resident for delivery subjects the Buyer to penalties as maybe determined by the sales officers from time to time. The Buyer bears the burden of any delivery costs incurred by the Seller.

Payment: The Buyer upon delivery of goods shall pay through the credit card whose number is provided in the title of this sale agreement (Dobbs, 2013). Refusal to pay tantamount automatic reduction of the prize of the product by the credit card company in favor of the Seller.

Cancellation: The Buyer can only cancel the order via the website or email within 24 hours of ordering the product, failure to which the goods are delivered by the Seller. In case of an urgent order, the Buyer can only cancel within 1 hour after the order request. Failure to adhere to these timelines amounts to penalties on payment of the same products purchase price.

Refund Policy: There shall be no refunds for any goods paid upon delivery.

Termination: The Seller has the right to terminate the e-sale contract if upon investigations, the Buyer is found to be non-existent or has misrepresented any information provided in the title of this e-commerce contract.

Choice of Law: The State of Florida e-commerce laws govern this Agreement and any issues or dispute arising hereunder.

I AGREE TO THESE TERMS AND CONDITIONS

PART II

A

The UCC Rules require that for a contract for sale or purchase to be enforceable, they must be in writing. Having a standard form contract reduces the risk for loss by the OS Company in case the manufacturer fails to deliver goods agreed upon and on time. Oral contracts usually have an enforceability problem (In DiMatteo, 2013). The rationale is the presence of numerous hearsay evidence that causing the evidence to be inadmissible in court. In Robert Mosher v Stephen Anderson (2002) No. SC00-1263, for instance, due to the lack of a written contract, the move by the petitioner to recover his debt failed as the Supreme Court did not recognize the oral contract made between the two traders.

Further, the inclusion of penalties to the manufacturers, for instance refusal to pay in cases of late delivery within the specified period averts liability from the purchaser and brings about the possibility of claim for damages from the supplier.

B

The standard from contract ensures liability shifts to the customer once they sign the contract. The OS company will be able to sue for damages and losses accrued due to cancellation of the order and the court grants full amount of the purchase price.

C

This Contract form will aid in regulation of e-commerce by the company. It will absorb the company from any liabilities relating to pre-mature cancellation as the company will be able to retrieve the buying price from the clients credit card. Communication for acceptance will also be simplified as it will be communicated as soon as one sends a request order via email or the company's website.

 

References

Dobbs, D. (2013). Law of Torts (Hornbook Series). West Academic.

Easterbrook, F. H., & Fischel, D. R. (2015). Limited liability and the corporation. The University of Chicago Law Review, 52(1), 89-117.

In DiMatteo, L. A. (2013). Commercial contract law: Transatlantic perspectives.

Wade, J. W. (2013). On the nature of strict tort liability for products. Miss. LJ, 44, 825.

 

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