What are sellers representations and warranties?

The seller representations and warranties are assurances by the seller about the company and, in the case of a stock or membership interest sale, the seller's equity interest in the company. The primary goal of seller representations and warranties is to transfer risk from the buyer to the seller.

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

Name: Tarrant Texas Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website
Brand: US Legal Forms
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Technology - Websites - Representations and Warranties

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Multi-State

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Tarrant

Control #:

US-01815BG

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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.

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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.

In the contract of sale, the exchange of goods takes place immediately. In the agreement to sell the parties agree to exchange the goods for a price depending on the fulfilment of certain conditions at a future specified date. The nature in the sale is absolute. The nature of the agreement to sell is conditional.

A Guarantee for the Buyer The sale of goods agreement is a legally binding contract that stipulates an item or items to be sold at a predetermined time and at a predetermined price. It is an important business tool that protects both the seller and buyer throughout the terms of the business transaction.

A sales agreement is a contract between a buyer and a seller that details the terms of an exchange. It is also known as a sales agreement contract, sale of goods agreement, sales agreement form, purchase agreement, or sales contract.

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 often, the buy and sell agreement stipulates that the available share be sold to the remaining partners or to the partnership. The buy and sell agreement is also known as a buy-sell agreement, a buyout agreement, a business will, or a business prenup.

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.

Any purchase agreement should include at least the following information: The identity of the buyer and seller. A description of the property being purchased. The purchase price. The terms as to how and when payment is to be made. The terms as to how, when, and where the goods will be delivered to the purchaser.

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.

The seller representations and warranties are assurances by the seller about the company and, in the case of a stock or membership interest sale, the seller's equity interest in the company. The primary goal of seller representations and warranties is to transfer risk from the buyer to the seller.

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

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What is a warranty in a sale agreement?

What is sell and agreement to sell?

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What is a legal agreement to buy and sell goods?

Why are representations and warranties important?

What is a buy-sell agreement called?

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What are reps and warranties in a purchase agreement?

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What is the Tarrant Agreement Regarding Representations and Warranties for Goods Purchased and to be Re-Sold on Purchaser's Website?

Why is the Tarrant Agreement important for goods purchased and re-sold on a website?

What are representations in the Tarrant Agreement?

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What happens if the goods purchased and resold do not meet the representations or warranties in the Tarrant Agreement?

Is it the purchaser's responsibility to verify the representations and warranties before making a purchase?

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