A sale of goods is a present transfer of title to movable property for a price. This price may be a payment of money, an exchange of other property, or the performance of services. The parties to a sale are the person who owns the goods and the person to whom the title is transferred. The transferor is the seller or vendor, and the transferee is the buyer or vendee.
Most goods are tangible and solid, such as an automobile or a chair. But goods may also be fluid, such as oil or gasoline. Goods may also be intangible, such as natural gas and electricity. The UCC is applicable to both new and used goods.
Goods that are physically existing and owned by the seller at the time of the transaction are called existing goods. All other goods are called future goods. Future goods include both goods that are physically existing but not owned by the seller and goods that have not yet been produced .
Before an interest in goods can pass from seller to buyer, the goods must exist, and they must be identified to the contract. For passage of title, goods must be identified in a way that will distinguish them from all similar goods. Identification gives a buyer the right to obtain insurance on goods and the right to recover from third parties who damage goods. Sometimes, identification allows the buyer to take goods from the seller. Regarding future goods, occurs when they are shipped, marked, or otherwise designated as the contract goods.
The New York General Form of Agreement for the Sale of Goods is a legally binding contract that sets out the terms and conditions governing the sale of goods between parties in New York. This agreement is specifically designed to comply with the provisions set forth in the New York Uniform Commercial Code (UCC), which governs commercial transactions involving the sale of goods. The primary purpose of the New York General Form of Agreement for the Sale of Goods is to establish a clear understanding between the buyer and the seller regarding important aspects of the transaction. These include the description of the goods being sold, the purchase price, payment terms, delivery arrangements, and any warranties or guarantees provided by the seller. Keywords: New York, General Form of Agreement, Sale of Goods, legally binding contract, terms and conditions, parties, New York Uniform Commercial Code, UCC, commercial transactions, buyer, seller, description of goods, purchase price, payment terms, delivery arrangements, warranties, guarantees. Different Types of New York General Form of Agreement for the Sale of Goods: 1. Standard New York General Form of Agreement for the Sale of Goods: This is the most commonly used version of the agreement and covers the essential terms and conditions applicable to the sale of goods in New York. It typically includes provisions regarding the description of goods, purchase price, payment terms, delivery arrangements, and any warranties or guarantees provided by the seller. 2. Customized New York General Form of Agreement for the Sale of Goods: Some businesses or individuals may require specific terms or provisions to be included in their agreement due to unique circumstances or specific requirements. This type of agreement allows for customization to ensure that the agreement addresses the specific needs of the parties involved. 3. International New York General Form of Agreement for the Sale of Goods: In case the sale of goods involves parties located outside the United States, an international version of the agreement might be necessary. This type of agreement typically incorporates additional clauses related to international trade, such as shipping terms, export/import regulations, and dispute resolution procedures that comply with international trade laws. Keywords: Standard, Customized, International, sale of goods, unique circumstances, specific requirements, customization, parties, United States, international version, shipping terms, export/import regulations, dispute resolution procedures.
