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Agreement Regarding Representations and Warranties for Goods...

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

Name: Santa Clara California Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website
Brand: US Legal Forms
Rating: 4.63 (278 reviews)

Category:

Technology - Websites - Representations and Warranties

State:

Multi-State

County:

Santa Clara

Control #:

US-01815BG

Format:

Instant download

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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FAQ

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.

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.

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.

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.

Fundamental representations and warranties are defined in the purchase agreement for issues that are so material that the buyer would not have agreed to the transaction if the statements were false. These are not limited by the cap and basket.

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.

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.

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.

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.

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Buyer authorises the charge or debit to Buyer's Payment Instrument as necessary to complete processing of a Payment Transaction. Brand name that Buyer has paid to acquire. 4.Standard Clauses providing general representations and warranties for a commercial sale of goods or services transaction under. 6.5 Automatic Renewal Sign-Up. All Items are subject to import and export laws and regulations in the United States and elsewhere. Here was her question: Santa Clara, CA 95054 or the other Arista affiliates identified in Section 15.1. Additional Information Regarding Purchase Agreement . Buyer's request for proposals and, following negotiation, Seller has agreed to sell to Buyer, and.

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

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What item's should be covered in the purchase and sale agreement?

Why are representations and warranties important?

What two items are purchase agreements contingent on?

What is the remedy for breach of representation and warranty?

What are typical fundamental representations and warranties?

What are reps and warranties in a purchase agreement?

What is the most important condition to be met in a purchase agreement?

What is the legal difference between a representation and a warranty?

What are representations and warranties in a purchase agreement?

What does representations and warranties mean?

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How long do the warranties mentioned in the Santa Clara Agreement last?

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