An agreement for the sale of goods is one in which the contracting parties, one buyer and one seller, agree to exchange ownership of property for money.
In a barter or exchange, goods are traded without the use of cash.
In an accord and satisfaction, property is given from one party to another in order to settle the claim of the other party.
There are four elements to a valid agreement for the sale of goods:
Anyone can be a buyer or seller but there are exceptions to this rule:
In setting a price for the parties to mutually agree upon, three criteria must exist:
The consent must only be in writing if the statute of frauds requires it. The statute of frauds usually requires that agreements, such as for the sale of goods, be made in writing.
There are a few different kinds of sales you should be aware of:
Contract negotiations, especially in the context of important financial contracts, can be tolling and difficult. A business lawyer can assist you with negotiations so your needs and requirements will be met. Additionally, a lawyer can help you with drafting and reviewing contracts, and explain to you your duties under the contract.
Last Modified: 06-28-2018 08:37 PM PDTLaw Library Disclaimer
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