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

State:
Multi-State
County:
Oakland
Control #:
US-01815BG
Format:
Word; 
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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 Oakland Michigan 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 regarding the representations and warranties for goods that are purchased and subsequently re-sold on the purchaser's website. This agreement ensures clear and transparent communication between the seller and the purchaser, protecting both parties' interests and establishing guidelines for quality assurance. Typically, there are two main types of Oakland Michigan Agreements Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website: 1. Standard Oakland Michigan Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website: This type of agreement sets out general terms and conditions regarding representations and warranties for goods bought and re-sold on the purchaser's website. It covers aspects such as the accuracy of product descriptions, authenticity, condition, and any additional services or features offered by the purchaser. This agreement aims to ensure that the goods being sold meet the buyer's expectations and that the seller takes responsibility for any misrepresentations or defects. 2. Customized Oakland Michigan Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website: In some cases, businesses may require a customized agreement that addresses their specific needs and requirements. This may include additional clauses related to specific industries, unique product specifications, or tailor-made warranty terms. Such customized agreements provide a higher level of specificity and are designed to cater to the unique aspects of the goods being sold on the purchaser's website. By engaging in an Oakland Michigan Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website, both parties can ensure a clear understanding of their roles and responsibilities. This agreement helps to foster trust, minimize disputes, and create a solid foundation for a successful business partnership.

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FAQ

Representations and warranties are assertions or assurances given by the parties to the agreement. While most purchase agreements contain representations and warranties from seller and buyer, the seller representations and warranties typically are the most extensive and more important.

If a purchase agreement is silent as to survival, reps and warranties survive until the applicable jurisdiction's statute of limitations for claims for breach of contract lapses.

A Buyer Representation Agreement is a legal document that formalizes your working relationship with a particular buyer's representative, detailing what services you are entitled to and what your buyer's rep expects from you in return.

The cash out clause Otherwise known as the escape clause, the cash out clause gives the seller the right to cancel a sale and purchase agreement if they receive a better offer. A better offer does not necessarily mean better price.

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.

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 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.

Put simply, a warranty is a contractual statement of fact made by the warrantor to the warrantee which is usually contained in a share or asset purchase agreement. Warranties often take the form of assurances from the seller as to the condition of the target company or business.

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.

What are Reps and Warranties? Reps and warranties refer to statements of fact that a seller makes as part of trying to persuade a buyer to purchase their business. Each of the parties in the transaction relies on the other to provide true information about the transaction.

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Be the complete and exclusive statement of such offer and agreement. The Securities purchased may not be resold without registration under.Recapture a portion of the Excess Sales Proceeds as described in the Resale Restriction. Agreement.

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