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Kentucky Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website

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US-01815BG
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This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

The Kentucky Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website is a legal document that outlines the terms and conditions for selling goods on a purchaser's website. This agreement is essential to protect both the purchaser and the customers who buy these goods. The agreement ensures that the goods purchased by the purchaser are accurately described and meet the required quality standards. It establishes the representation and warranty obligations of both parties involved in the transaction. By having this agreement in place, the purchaser can maintain transparency and ensure customer satisfaction. Some key elements covered in the Kentucky Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website may include: 1. Goods Description and Quality: This section details the accurate representation of the goods, including their specifications, features, and condition. It also defines the required quality standards that the goods must meet. 2. Title and Ownership: This clause establishes that the purchaser has the legal right to sell the goods on their website and ensures that the goods are not subject to any claims or liens by third parties. 3. Purchase Price and Payment Terms: This section outlines the agreed-upon purchase price for the goods and the payment terms, such as due dates and acceptable forms of payment. 4. Representations and Warranties: This part specifies the representations and warranties provided by the seller regarding the goods, such as their authenticity, performance, and conformity with applicable laws and regulations. 5. Inspection and Acceptance: This clause states the procedures for the purchaser to inspect and accept the goods upon delivery. It may include provisions for dispute resolution in case of any discrepancies or issues with the received goods. 6. Limitations of Liability: This section defines the limitations and exclusions of liability for both parties in case of any claims, damages, or losses arising from the purchase and sale of the goods. 7. Indemnification: This clause outlines the obligations of each party to indemnify and hold harmless the other party from any losses or damages resulting from a breach of the agreement. 8. Governing Law and Jurisdiction: This part determines which state laws will govern the agreement and the jurisdiction where any disputes or legal actions will be resolved. It's important to note that the specifics of the Kentucky Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website may vary depending on the type of goods being sold and the preferences of the parties involved. Some potential variations may focus on specific industries or include additional terms according to the unique circumstances of the transaction.

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FAQ

Specifically, the remedy for breach of warranty is typically some measure of expectancy damages, whereas the remedies for the tort of misrepresentation are typically rescision plus some measure of reliance or restitution damages, along with punitive damages if the misrepresentation was intentional.

Reps and warranties is a term used to describe the assertions that a buyer and/or seller makes in a purchase and sale agreement. Both parties are relying on each other to provide a true account of all information and supporting documents to close the transaction.

The key difference among these words is temporal past and present for representations; past, present, but mainly future for warranties; and mainly future for covenants. The remedies for a false representation, breach of a warranty or violation of a covenant also have differed.

A representation is an assertion as to a fact, true on the date the representation is made, that is given to induce another party to enter into a contract or take some other action. A warranty is a promise of indemnity if the assertion is false.

The representations and warranties section of the Purchase Agreement is one of the most negotiated sections of any agreement between a buyer and a seller. It covers statements of fact and promises about what is sold. The seller will make several representations and warranties about the target and assets.

As a default, the remedies for a breach of a warranty are indemnification, termination (requires a material breach) or proportionate reduction of the purchase price. The purchase agreement usually will limit the remedy for breaches to indemnification.

The representations and warranties allocate risk between the parties and serve as the foundation for an indemnification claim in case of a breach or inaccuracy. A breach or inaccuracy of a representation or warranty can also provide the other party with a right to terminate or refuse to close the transaction.

A representation is an assertion of past or existing fact given by one party to induce another party to enter into an agreement. A warranty is a promise that the assertion of existing fact or future facts are or will be true, along with an implied promise of indemnity if the assertion is false.

Seller representations and warranties are not required by law but are in nearly every purchase agreement. I have had deals in which the seller representations and warranties fill less than a page and other deals in which the seller representations and warranties have filled 30 pages.

A representation is a statement of past or present fact (either express or implied) made by one party to induce the other party to enter into the agreement.

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A. Tangible Personal Property, Items, Property, and Goods (TaxableThe purchaser may write to the Department of Revenue to request a Sales and Use. Representations are statements about the current status of theto acquire (the Company) to make in the agreement (the Agreement).How is sales tax applicable to the sale of each of these items?be handled on vehicles purchased out of state with an extended warranty contract? If a mortgage company asks you to re-write a contract using a different sales price or different terms than you agreed to, you should walk away from that deal. Seller specifically does not waive any lien rights, but if so requested, partial waivers will be delivered in return for partial payments and final waiver will ... Drafting a bill of sale is a legally binding document that may provide evidence of the sale of your personal property. Learn more. By J Dreyer ? broker-originated loans, as well as mortgage loans purchased from aThe parties agree to raise the selling price to cover the buyer's closing costs ... Acceptance of the Products sold hereunder shall constitute assent to thesePurchaser agrees to reimburse Seller for any and all taxes and fees or costs ... A Closing Certificate (substantially in the form of Exhibit E attached hereto) certifying that the representations and warranties of Seller under the Agreement ... At the closing under the Stock Purchase Agreement, the Issuer and Abbott will also enterSECTION 4 REPRESENTATIONS AND WARRANTIES OF THE PURCHASER 7.

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Kentucky Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website