Pre Sale Purchase Agreement for the United States

Pre Sale Purchase Agreement Template for United States

A Pre-Sale Purchase Agreement is a legally binding document used in the United States that establishes the terms and conditions for a future sale of goods, property, or services before they are available for immediate transfer. This agreement outlines the purchase price, payment terms, delivery conditions, and obligations of both parties. It provides protection under U.S. contract law and typically includes provisions for termination, warranties, and dispute resolution under applicable state and federal regulations.

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What is a Pre Sale Purchase Agreement?

The Pre-Sale Purchase Agreement is a crucial document used when parties wish to secure a future transaction before the subject matter is ready for immediate sale. This agreement type is commonly used in the United States across various industries, particularly in real estate, manufacturing, and technology sectors. It protects both buyer and seller by clearly defining the terms of the future transaction, including payment schedules, delivery conditions, and quality specifications. The agreement must comply with state-specific contract laws and federal regulations, including the Uniform Commercial Code.

What sections should be included in a Pre Sale Purchase Agreement?

1. Parties: Identification and details of all parties involved in the agreement

2. Background/Recitals: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Subject Matter: Description of goods/property being purchased

5. Purchase Price: Price, payment terms, and payment schedule

6. Closing Conditions: Conditions that must be met before sale completion

7. Representations and Warranties: Statements of fact and promises by both parties

8. Termination: Circumstances under which agreement can be terminated

9. Governing Law: Applicable jurisdiction and dispute resolution

What sections are optional to include in a Pre Sale Purchase Agreement?

1. Financing Provisions: Terms of financing arrangements, including payment schedules and interest rates

2. Due Diligence: Buyer's right to inspect and verify the subject matter of the purchase

3. Escrow Arrangements: Terms and conditions of any escrow services used in the transaction

4. Assignment Rights: Provisions regarding the right to assign the agreement to third parties

What schedules should be included in a Pre Sale Purchase Agreement?

1. Property Description Schedule: Detailed description of goods/property being purchased

2. Payment Schedule: Detailed breakdown of payment terms and dates

3. Due Diligence Checklist: List of required inspections and verifications

4. Required Documents List: List of documents needed for closing

5. Disclosure Schedule: Required disclosures about the subject matter of the sale

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
Industries

Uniform Commercial Code (UCC): Primary federal law governing sales transactions, particularly Article 2 which regulates the sale of goods and establishes fundamental contract principles

Interstate Commerce Regulations: Federal regulations governing transactions that cross state lines, including rules for interstate sales and commerce

Federal Consumer Protection Laws: Federal regulations designed to protect consumer rights, prevent fraud, and ensure fair business practices in sales transactions

FTC Regulations: Federal Trade Commission rules governing fair trade practices, advertising, and consumer protection in sales transactions

Truth in Lending Act: Federal law requiring disclosure of credit terms and costs in consumer credit transactions, applicable if financing is involved

State Contract Laws: State-specific regulations governing contract formation, enforcement, and remedies, which may vary by jurisdiction

State Consumer Protection Statutes: State-level laws protecting consumer rights and regulating business practices, which may provide additional protections beyond federal law

State Real Estate Laws: State-specific regulations governing real property transactions, if the pre-sale agreement involves real estate

State UCC Modifications: State-specific modifications to the Uniform Commercial Code that may affect sales transactions in that jurisdiction

Statute of Frauds: Legal doctrine requiring certain contracts to be in writing to be enforceable, particularly relevant for sales of goods over $500

Contract Formation Principles: Legal requirements for valid contract formation including offer, acceptance, consideration, and mutual intent

Good Faith and Fair Dealing: Legal requirement that parties act honestly and fairly in contract formation and performance

Warranty Laws: Laws governing express and implied warranties in sales transactions, including product quality and fitness for purpose

Industry-Specific Regulations: Specialized rules and requirements that apply to particular industries or types of transactions

Documentation Requirements: Legal requirements for written documentation, disclosures, and recording of sales agreements

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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