This Contract of Goods One sample letter serves as an official agreement between a buyer and the seller of goods.
It is normal for agreements of this nature to include the time and manner of exchange and receipt of goods.
This sample form addresses that as well as the risk of loss and other procedures that need to be settled and noted in writing.
Establish consent on all handling of goods between other parties, and alleviate the potential for future disputes.
THIS AGREEMENT, made and entered into this ___ day of _________, l98_, by and between ___________________, the Seller, and ___________________, the Buyer:
1. The seller hereby undertakes to transfer and deliver to the buyer on or before __________, l98_, the following described goods:
2. The buyer hereby undertakes to accept the goods and pay for them in accordance with the terms of the contract.
3. It is agreed that identification shall not be deemed to have been made until both the buyer and the seller have agreed that the goods in question are to be appropriated to the performance of the contract with the buyer.
4. The buyer shall make payment for the goods at the time when and at the place where the goods are received by him.
5. Goods shall be deemed received by the buyer when received by him at ____________.
6. The risk of loss from any casualty to the goods regardless of the cause thereof shall be on the seller until the goods have been accepted by the buyer.
7. The seller warrants that the goods are now free and at the time of delivery shall be free from any security interest or other lien or encumbrance.
8. The seller further warrants that at the time of signing this contract he neither knows nor has reason to know of the existence of any outstanding title or claim of title hostile to his rights in the goods.
9. The buyer shall have the right to examine the goods on arrival, and within business days after such delivery he must give notice to the seller of any claim for damages on account of the condition, quality, or grade of the property, and must specify the basis of his claim in detail. The failure of the buyer to comply with these rules shall constitute irrevocable acceptance of the goods.
10. Executed in duplicate, one copy of which was delivered to and retained by the buyer, the day and year first above written.