Some states require a sales and usage tax to be added to the purchase price of the sale of personal property. Make sure you know who is responsible for these taxes in your purchase and sale agreement. Explicit guarantees: An explicit guarantee is a positive statement from the seller about the quality and characteristics of the merchandise. An example of an express warranty is an electronics distributor that tells a customer, “We guarantee defects to your newly purchased TV for three years. If you tell us there is a defect, we will replace it or fix it. However, an explicit guarantee can be created even if the seller does not intend to establish one. If the sales contract has a description of the products that the buyer relies on at the time of purchase, an explicit guarantee is made that the merchandise complies with that description. When the seller makes a sample of the merchandise available to the buyer, an explicit guarantee is made that the merchandise matches the sample. A written agreement allows both the seller and the buyer to clearly state the explicit guarantees that apply to the merchandise if necessary. If you do not have a sales contract, you may not understand your contractual rights and obligations, the economic consequences of the risks, and the remedies and protections you legally have.

This agreement provides a solid foundation and framework for all stages of an otherwise complex process and provides ways to address and correct them in the event of a problem. 10.1 This agreement contains the entire agreement between the parties and replaces all of these previous agreements with respect to the issues set out in them. This agreement will only be amended in writing and signed by both parties. This agreement binds the parties and their heirs, executors, directors, successors, beneficiaries of the assignment and personal representatives. No party can terminate the agreement and the rights of this treaty. Sites such as Craigslist, Ebay, Poshmark and other online markets have made it easier for buyers and sellers to connect with personal property. 7.1 The seller guarantees that at the time of the signing of the agreement, the seller has the right and property to sell the goods and that the seller does not know and has no reason to know of the existence of an unpaid property or a right that is hostile to the seller`s rights over the goods. If you wish to sell or buy a business, please use our purchase agreement. A successful individual or business needs to maximize profits by anticipating the biggest sales periods and knowing how many stocks it takes to meet demand. In the absence of a sales contract, you or your company may not be able to sell or guarantee inventory at the best prices because they do not maximize profits. The above parties have entered into this sales contract (the “contract”) under the terms listed below: your buyer may suddenly decide not to buy you, in which case you would be left with an unexpected inventory and no recourse. Or your seller can find a buyer who is willing to pay more so that you don`t have inventory and angry customers.