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

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Multi-State
Control #:
US-01815BG
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Word; 
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Description

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.

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

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FAQ

Among the terms typically included in the agreement are the purchase price, the closing date, the amount of earnest money that the buyer must submit as a deposit, and the list of items that are and are not included in the sale.

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.

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.

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.

6.3 Non-Contravention. The execution and delivery of, and the performance of the actions contemplated by this Agreement and each Ancillary Agreement by Purchaser will not violate any applicable Law.

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.

A Business Purchase Agreement is a contract used to transfer the ownership of a business from a seller to a buyer. It includes the terms of the sale, what is or is not included in the sale price, and optional clauses and warranties to protect both the seller and the purchaser after the transaction has been completed.

Purchased Assets and Excluded Assets This can manifest in the agreement in one of two ways - the agreement can list only the assets that the buyer will choose to purchase, or an agreement can state that the buyer will purchase all the assets of the business, excluding certain listed assets.

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.

First and foremost, a purchase agreement must outline the property at stake. It should include the exact address of the property and a clear legal description. Additionally, the contract should include the identity of the seller and the buyer or buyers.

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