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

State:
Multi-State
County:
Fairfax
Control #:
US-01815BG
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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.

Fairfax Virginia Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website is a legally binding agreement that outlines the specific terms and conditions regarding the representations and warranties of goods purchased and subsequently re-sold on the purchaser's website in Fairfax, Virginia. This agreement serves as a protective measure for both the purchaser and the supplier, ensuring clarity and transparency in the transaction process. The Fairfax Virginia Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website includes various sections and provisions to safeguard the interests of both parties involved. Some key elements typically covered in this agreement are: 1. Goods Description: This section provides a detailed description of the goods purchased and to be re-sold on the purchaser's website. It includes specifications, quantities, quality standards, and any other relevant details to ensure accurate representation. 2. Representations: This section outlines the representations made by the supplier regarding the goods being sold, including their condition, authenticity, and compliance with applicable laws and regulations. 3. Warranties: The agreement includes warranties provided by the supplier, which assure the purchaser that the goods will meet the agreed-upon specifications, be free from defects, and fit for the intended purpose. 4. Indemnification: This provision addresses the responsibility of the supplier to indemnify and hold harmless the purchaser in case of any claims or damages arising from the goods purchased and re-sold on the website. 5. Limitation of Liability: This section delineates the limitations on liability for both parties, establishing a cap on the amount of damages that can be claimed in the event of a dispute. 6. Governing Law: The agreement specifies that it is governed by the laws of Fairfax, Virginia, ensuring that any disputes or legal actions are resolved according to the local jurisdiction. Different types of Fairfax Virginia Agreements Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website can vary based on specific industries or product categories. For instance: 1. Fairfax Virginia Agreement Regarding Representations and Warranties for Electronics Purchased and to be Re-Sold on Purchaser's Website 2. Fairfax Virginia Agreement Regarding Representations and Warranties for Clothing Purchased and to be Re-Sold on Purchaser's Website 3. Fairfax Virginia Agreement Regarding Representations and Warranties for Automobile Parts Purchased and to be Re-Sold on Purchaser's Website These are just a few examples of how the agreement can be tailored to different industries or product types, highlighting the need for specificity and customization in such agreements.

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FAQ

A purchase agreement must detail the property to be sold, identifying the exact address and including the property's legal description as contained in official records of the local jurisdiction. Additionally, the identity of the seller (or sellers) and the buyer (or buyers) must be noted.

The Basic Concepts: A warranty is a legally binding commitment forming part of the sales contract which assures the buyer that the product or service is free from defects. A warranty often provides for a specific remedy such as repair or replacement in the event the article or service fails to meet the warranty.

N. 1) the act of being another's agent. 2) acting as an attorney for a client. 3) a statement of alleged fact either in negotiations or in court. (

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.

Unlike both representations and warranties, covenants don't include statements of fact. Covenants also focus on the future. They aren't concerned about what happened in the past or what is happening in the present. Some covenants are combined with representations.

Most purchase agreements are contingent upon a satisfactory home inspection and mortgage financing approval. There are other types of contingencies as well, in addition to the most common ones mentioned above. Buyers should use a "market-minded" approach when adding these items to their contracts.

As discussed above, a purchase agreement should contain buyer and seller information, a legal description of the property, closing dates, earnest money deposit amounts, contingencies and other important information for the sale.

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 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.

In general, a warranty is a promise, assurance, or statement made by the warrantor regarding the existence or accuracy of specific facts or the condition, quality, quantity, or nature of a good or property. There are express and implied warranties, both of which are legally binding commitments.

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Description: GORHAM SILVER 'IMPERIAL CHRYSANTHEMUM' (1894) SOLID OVERSIZE SERVING SET with remaining gilt traces, monogrammed, 8 ozt (2).

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