Agreement To Sell Contract for the United States

Agreement To Sell Contract Template for United States

An Agreement to Sell Contract is a legally binding document used in the United States that outlines the terms and conditions under which one party agrees to sell and another party agrees to purchase specific goods, property, or assets. This agreement is governed by state-specific contract laws and the Uniform Commercial Code (UCC), particularly Article 2 for the sale of goods. It establishes the rights and obligations of both parties, including purchase price, payment terms, delivery conditions, and warranties.

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What is a Agreement To Sell Contract?

The Agreement To Sell Contract serves as a crucial legal instrument in U.S. commercial transactions, providing a formal framework for sales of goods, property, or assets. This document is essential when parties need to clearly define the terms of a sale, including price, payment schedule, delivery terms, and conditions precedent to closing. It's particularly important for transactions subject to the Statute of Frauds and UCC requirements. The agreement helps prevent disputes by clearly documenting all aspects of the sale and protecting both parties' interests through legally enforceable terms.

What sections should be included in a Agreement To Sell Contract?

1. Parties: Identification and details of the seller and buyer

2. Background: Context and purpose of the sale agreement

3. Definitions: Key terms used throughout the agreement

4. Subject Matter of Sale: Detailed description of goods/property being sold

5. Purchase Price: Amount and payment terms

6. Closing Date: Timing of sale completion

7. Representations and Warranties: Seller's assertions about the goods/property

8. Governing Law: Applicable jurisdiction and laws

What sections are optional to include in a Agreement To Sell Contract?

1. Due Diligence: Buyer's right to inspect/verify goods - used in complex or high-value transactions

2. Conditions Precedent: Prerequisites to closing - used when specific conditions must be met before sale completion

3. Escrow Arrangements: Terms for holding funds/documents in escrow - used in high-value transactions or when security is needed

4. Insurance: Insurance requirements during transition - used for valuable goods or property transactions

What schedules should be included in a Agreement To Sell Contract?

1. Schedule of Assets: Detailed listing of items included in sale

2. Price Schedule: Breakdown of purchase price components

3. Condition Report: Current state of goods/property

4. Title Documents: Proof of ownership and transfer documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Genie AI

Cost

Free to use
Clauses
Industries

Uniform Commercial Code (UCC): Primary law governing sales of goods in the US, particularly Article 2. Covers contract formation, performance, and remedies. Mandatory for goods transactions over $500.

Statute of Frauds: Legal requirement that certain contracts must be in writing to be enforceable, particularly relevant for sales of goods over $500 and real estate transactions.

State-Specific Contract Laws: Various state-level requirements affecting contract formation, enforceability, and consumer protection that vary by jurisdiction.

Fair Trade Practices Laws: Including Federal Trade Commission Act and state consumer protection laws, governing fair business practices and preventing fraud.

Product-Specific Regulations: Specialized regulations that may apply depending on the product type, including FDA regulations, Consumer Product Safety Commission requirements, and industry-specific rules.

Property Laws: State property laws, local zoning regulations, and real estate transfer requirements applicable when the sale involves real property.

Electronic Signature Laws: E-SIGN Act and Uniform Electronic Transactions Act (UETA) governing the validity and enforceability of electronic signatures and records.

Tax Considerations: Various tax implications including sales tax requirements, property transfer taxes, and federal tax considerations that must be addressed in the agreement.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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