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Sample draft contracts vary depending on what product is being sold.
However, in order for a contract of sale to be enforceable the following five (5) essential elements are required:
(a) The identity of the parties
(b) A clearly defined product or service, the subject of the sale
(c) An offer to purchase, and
(d) An acceptance of a specific clearly defined offer.
(e) Consideration, ex price, or an obligation to do, or forebear from doing a specific act of importance to one of the parties.
Additional terms in the contract will qualify or enhance specific elements and determine explicit or implicit inferences that can be made concerning what has been agreed. Since the law of contracts is affected by state law and the particular subject of the sale, there may be additional requirements such as (a) a writing, or (b) registration. It is also helpful to include a clause on dispute resolution and governing law. These make enforcement easier.
After preparing your draft get the assistance of an attorney to vet it on your behalf.
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∙ 13y ago
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Where to find a sample contract for sale of vehicle?
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Can you distinguished Contract of Sale from contract to sell?
Contract to sell is an executory contract while contract of sale is an executed contract.
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"Contract of sell" is just "contract of sale" misspelled.
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