...THIS AGREEMENT FOR SUPPLY OF RHODES GRASS HAY (“This agreement is made on this _5th day of March 2015 By and between Exalter Agri Business with N.I.C #32303-5183655-1 ( With Respective Owners Syed Jawad Ahsan & Shafiq Ur Rehman , Address 134-B/1 Gulberg III Lahore And Aldhara Agriculture Company a private limited company duly constituted and existing under the Laws of Pakistan, and having its farms all over major areas of Punjab. Where As The seller is engage in production of Rhodes Grass hay and the buyer is engage in exporting of hay which is related to business of Agriculture. Its is agreed between the parties that the seller will supply to the buyer and the buyer shall purchase from the seller , Rhodes Grass Hay ( the “Hay”) of agreed quantity, and the buyer , subject to and in accordance with this Agreement. The Parties have agreed to the terms and conditions of supply of the hay, which terms and conditions the parties are desirous to hereby reduce into writing. NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL CONVENANTS SET-OUT HEREIN BELOW AND WITH THE INTENTION TO BE LEGALLY BOUND, THIS AGREEMENT WITNESS as follows. 1. Term a. The term of this agreement shall begin on the date of execution of this Agreement and shall remain in effect for a period of 9 months there supply of 1800 metric tons of Rhodes Grass hay will be supplied to the buyer, Unless it is renewed for a further period as decided by mutual written consent of the parties, before expiry...
Words: 1318 - Pages: 6
...contract where by the seller transfers OR agrees to transfer the property in the goods to the buyer for a price. Such a sale may be absolute OR conditional. Where under a contract of sale the property in the goods is transferred from the seller to the buyer the contract is termed as sale. Where the transfer of property in the goods is to take place at a future date OR after certain conditions are fulfilled the contract is termed as an ‘agreement to sale’. An agreement to sale becomes a sale after the expiry of the time agreed upon OR after the condition is fulfilled. Essentials of a contract of sale:- 1) Parties: The buyer & the seller who must be competent to contract. 2) Goods: The contract must be in respect of the sale of goods. 3) Transfer of ownership: There must be a transfer of ownership from the seller to the buyer i.e. the buyer becomes the owner of the goods after sale. 4) Consideration: Consideration of a contract of sale is always in terms of money. 5) Form: For a contract of sale there is no particular form prescribed. It can be in writing OR oral. 6) A contract of sale may be absolute OR conditional. A contract of sale is of 2 types:- When it is absolute the ownership of the goods is transferred to the buyer. Such a contract is termed as a sale. When the contract is conditional the ownership of the goods is transferred at a future date. Such a contract is termed as an agreement. When the condition...
Words: 3479 - Pages: 14
...sale of goods. Thus, the CISG contributes significantly to introducing certainty in commercial exchanges and decreasing transaction costs. Why is it relevant? The contract of sale is the backbone of international trade in all countries, irrespective of their legal tradition or level of economic development. The CISG is therefore considered one of the core international trade law conventions whose universal adoption is desirable. The CISG is the result of a legislative effort that started at the beginning of the twentieth century. The resulting text provides a careful balance between the interests of the buyer and of the seller. It has also inspired contract law reform at the national level. The adoption of the CISG provides modern, uniform legislation for the international sale of goods that would apply whenever contracts for the sale of goods are concluded between parties with a place of business in Contracting States. In these cases, the CISG would apply directly, avoiding recourse to rules of private international law to determine the law applicable to the contract, adding significantly to the certainty and predictability of international sales contracts. Moreover, the CISG may apply to a contract for international sale of goods when the rules of private international law point at the law of a Contracting State as the applicable one, or by virtue of the choice of the contractual parties, regardless of whether their places of business are located...
Words: 3000 - Pages: 12
...Option to Purchase Real Property Agreement Date: ______________ This option agreement is entered into between the Parties, Seller(s) and Buyer(s), below in consideration of and subject to the following terms and conditions. 1. Parties: Anittra Davis and/or assigns as Buyer and ________________________________________________________ as Seller 2. Property Address: __________________________________________________________ 3. Offer: Buyer has the option to buy the property at $_______________ 4. Period: 30 days 5. Provisions: * Seller understands that Buyer’s intention is to find an End-Buyer and assign this Option Agreement to that End-Buyer for a fee (paid by the End-Buyer). * Seller understands that Buyer is acting as a principle in the transaction and is not working as a licensed real estate broker representing anyone in the transaction. * Upon Buyer’s decision to exercise this option, both parties agree to move forward with the necessary standard purchase and sales agreement. * Seller may cancel this agreement at any time if they find their own buyer or tenant or decide not to sell. * Seller agrees to allow Buyer to put a sign in the yard, advertising the property for sale. * If Buyer does not acquire an End-Buyer to assign this deal to within 30 days of acceptance of this Option Agreement, this agreement becomes null and void. * All parties agree that property is being sold...
Words: 279 - Pages: 2
...| SALE OF GOODS ACT, 1930 | | | master of finance and control (Part 1) September 30, 2011 Submitted by: Nishtha Tewari-2506 Aditi Rao-2560 Jasmeet Kaur-2562 SALE OF GOODS ACT, 1930 ACKNOWLEDGEMENT We would like to extend our gratitude towards Dr. Nidhi Jain for her guidance and constant supervision as well as for providing necessary information regarding the project & also for her support in completing the project. SALE OF GOODS ACT, 1930 CONTENTS I. Contract of Sale of Goods II. Overview III. Characteristics of a Contract of Sale of Goods IV. Sale v/s Agreement to sell V. Sale v/s Hire Purchase VI. Sale v/s Contract for Work and Labor VII. Kinds of Goods VIII. Perishing of Goods IX. The Price X. Modes of Price fixing XI. Agreement to sell at Valuation XII. Earnest or Deposit XIII. Stipulations as to Time XIV. Document of Title of goods XV. Conditions and Warranties XVI. Misrepresentation and Stipulation XVII. Conditions v/s warranties XVIII. When condition can be treated as warranty XIX. Implied Conditions XX. Warranties XXI. Implied Warranties XXII. Doctrine of Caveat Emptor XXIII. Exceptions to Doctrine of Caveat Emptor HISTORY BEHIND THE ACT * Sale of Goods act is a very old mercantile law. The Contracts of Sale of Goods was initially covered in Indian Contract Act, 1872 (Chapter V11) * Since the Indian Contract Act itself was a part...
Words: 8193 - Pages: 33
...feature are there in sales of goods. Like ➢ conditions and warranties. ➢ when the ownership of the goods sold pass to the buyer. ➢ in what circumstance a buyer acquires a good title over the goods. ➢ the duties and rights of the seller and buyer What is a Contract of Sale Secction – 4 defines A contract of Sale of Goods is a contract where by the seller transfers or agrees to transfer the property in goods to a buyer for a price. The term contract of sale consists of 1) Sale or absolute sale 2) Agreement to sale or conditional sale 1.Sale or Absolute Sale. Sec-4 (3): Where the property in the goods is immediately transferred from the seller to the buyer, and nothing is left on the part of the seller to transfer any thing, it is called Sale or Absolute Sale. 2. Agreement to Sale or Conditional Sale. Sec-4 (4): Where the transfer of property in the goods shall take place in future or on the fulfillment of certain conditions, it shall be an agreement to sale or conditional sale. The ownership shall not be transferred until and unless the condition is fulfilled. Essential elements of Contract of Sale: ➢ Contract: All the essentials of elements of contract are necessary for the contract of sale ➢ Two Parties: To constitute a contract of sale, there must be two parties 1. The buyer & seller 2. The parties must be competent to contract. ➢ Price: The consideration for the contract of...
Words: 4800 - Pages: 20
...PURCHASE AGREEMENT[1] ASSET PURCHASE AGREEMENT (the “Agreement”) entered into this ___ day of April, 2013, between Flyer International Corp., a Delaware corporation (“Buyer”), and Hill Universal Inc., a Delaware corporation (“Seller”). Capitalized terms used in this Agreement and not otherwise defined shall have the meanings set forth in Article 1. RECITALS WHEREAS, Buyer desires to purchase from Seller, and Seller desires to sell to Buyer, the Assets (as hereinafter defined), in each case in accordance with the terms and subject to the conditions of this Agreement; WHEREAS, Buyer and Seller (collectively, the “Parties”) desire to enter into this Agreement for the purpose of setting forth their mutual understandings and agreements with respect to the foregoing; NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: ARTICLE 1 DEFINITIONS For purposes of this Agreement, the following terms (and variations thereof) have the meanings specified or referred to in this Article 1: “Assets” means all owned tangible property (including, without limitation, machinery, equipment, furniture, automobiles, __________) used in operating the Facility and the Equipment as currently operated; “Best Efforts” means the efforts that a prudent Person desirous of achieving a result would use in similar...
Words: 1598 - Pages: 7
...involves planning, soliciting sources, choosing a source, administering the contract, and closing out the contract. Procurement management, as far as your PMP exam is considered, focuses on the practices from the buyer’s pointof-view, not the seller’s. The seller can be seen as a contractor, subcontractor, vendor, or supplier. When buying anything from a vendor, the buyer needs a contract. A contract becomes a key input to many of the processes within the project. The contract, above anything else, specifies the rules and agreements for the project. Here’s a neat twist: when the seller is completing its obligations to supply a product, PMI treats those obligations as a project. In other words, if ABC Electricians were wiring a building for your company, ABC Electricians would be the performing organization completing its own project. Your company becomes the customer of their project—and is, of course, a stakeholder in their project. In the scenarios described in this chapter, the seller will be outside of the performing organization. The buyer will be managing a project and procuring resources from a vendor. However, all of the details in this chapter can be applied to internal work orders, formal agreements, and contracts between organizational units within a single entity. Planning for Procurement Procurement planning is the process of identifying which part of the project should be procured from resources outside of the organization. Generally, procurement...
Words: 11065 - Pages: 45
...INTERNATIONAL SUPPLY AGREEMENT Preamble This SUPPLY AGREEMENT (herein after the “Contract”) is entered into as of April 30, 2009, by and between the undersigned: BradiagaKrills Ltd ( hereinafter “ the Seller” or “Bradiaga”), a company organized under the laws of the Russian Federation, whose head office is located at ……………, Murmansk, Russian Federation, represented by Mr. ABC, acting as Chairman of Bradiaga. ON THE ONE HAND And: Blizzard Ltd (herein after “the Buyer” or “Blizzard”), a company organized under the laws of the United Kingdom, whose head office is located at ………………., Aberdeen, U.K, represented byMr XYZ, acting as Chairman of Blizzard. ON THE OTHER HAND Each of the the Seller and the Buyer is referred to herein individually as a “Party” and collectively as the “Parties”. Recitals WHEREAS the Seller is a major fishing company operating in the Antarctic sea who has expertise in manufacturing frozen seafood; WHEREAS the Buyer is the main European supplier of sea products to the pharmaceutical and cosmetic industry; WHEREAS the Seller wishes to sell the Products in European countries via a Highly Qualified Distributor with a large European network; WHEREAS the Buyer has been selected by the Seller and desires the Seller to manufacture and supply the Buyer with the freeze-dried krills (hereinafter “the Products”) and the Seller agrees to manufacture and supply such products under the terms and conditions herein. Agreement NOW THEREFORE...
Words: 1735 - Pages: 7
...may be called the 1[***] Sale of Goods Act, 1930. 2[(2) It extends to the whole of India 3[except the State of Jammu and Kashmir].] (3) It shall come into force on the lst day of July, 1930. 2. Definitions In this Act, unless there is anything repugnant in the subject of context,- (1) "buyer" means a person who buys or agrees to buy goods; (2) "delivery" means voluntary transfer of possession from one person to another; (3) goods are said to be in a "delivered state" when they are in such state that the buyer would under the contract be bound to take delivery of them; (4) "document of title to goods" includes bill of lading dock-warrant, warehouse keeper's certificate, wharfingers' certificate, railway receipt, 4[multimodal transport document,] warrant or order for the delivery of goods and any other document used in the ordinary course of business as proof of the possession or control of goods or authorising or purporting to authorise, either by endorsement or by delivery, the possessor of the document to transfer or receive goods thereby represented; (5) "fault" means wrongful act or default; (6) "future goods" means goods to be manufactured or produced or acquired by the seller after making of the contract of sale; (7) "goods" means every kind of moveable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract...
Words: 8109 - Pages: 33
...Free Trade Agreement (FTA) FTA & Trade Blocs are the same thing but Trade Bloc is the wider picture. FTA * An agreement between two or more countries to create a free trade area; that us an area in which all barriers to trade among them are removed or modified, although sometimes only for certain specified goods and services. * All barriers -> often not all the barriers are removed * Trading blocs may create FTA with other countries Trade Bloc * It is formed by an agreement among countries to establish links through the movement of goods, services, capital and labor across borders. * A large free trade area or free trade area formed by one or more tax, tariff and trade agreements. * It is the outcome of an agreement between countries to facilitate the movement of goods, services, labor and capital across borders. * Trade blocs can lead to: * Lower financial transaction costs * Lead to economies of scale…via larger markets * Result in cheap cross border transaction costs * Provide greater transparency…via new accountabilities and uniformity of regulations and procedures * Benefits of trade bloc * Trade facilitation via assisting Foreign Direct Investment * An increase in foreign direct investment results from trade blocs and benefits the economies of participating nations. * Lager markets are created, resulting in lower costs to manufacture products locally. * Enabling...
Words: 3863 - Pages: 16
...have to pay? Where is the money coming from? Management Buy Outs and Management Buy Ins Do I need Heads of Agreement (“Heads”)? Take a good look at the target Share Purchase – The Legal Paperwork Asset Purchase – The Legal Paperwork Buying from an Administrator or Liquidator Completion Legal Costs 1. Introduction What follows is a brief overview of a complex legal area in which many traps and pitfalls await those unprepared. This guide outlines the main considerations that apply in buying or selling a business with practical advice based upon our own experiences of buying and selling numerous businesses for our clients over the years. There is no substitute for early, fast, pragmatic legal and other professional advice to guide you through the transaction whilst allowing you to remain focussed on the key management and operational decisions affecting the business. In our experience, every deal is unique. Steeles Law, Corporate and Commercial team Service, response times and business acumen are without fault Legal 500 2. So Where Do I Begin The Process? Proper legal advice is essential early in any major transaction for two key reasons: 1. to ensure certainty – are you clear exactly what it is you are buying or selling? Does the agreement reflect that? Don’t get “caught out”. 2. to protect your investment, or the proceeds of your sale, against unexpected liabilities...
Words: 7606 - Pages: 31
...Whenever a transaction of property takes place in the real estate industry, there is a purchase and sale agreement form that needs to be signed and agreed upon by both the buyer and seller. The form will have the terms and conditions, as outlined in Exhibit 2, of the sale. This is the same case whenever a landlord, should Charlie Leonard proceed to purchase the property, leases out his/her property to tenants; an agreement must be signed between the lessor and lessee that details all the terms and conditions of the lease. Both parties’ names will be listed on the top of the sale agreement and each will be classified as the “Seller” and “Buyer”. These two terms are used for the rest of the agreement to make transparent each side’s responsibilities. The buildings, structures, improvements, and fixtures are important as property age over time and so in certain circumstances, parts of the property (ex: windows, doors, fences) will need to be replaced. Again, the seller and buyer will discuss which side will be footing the cost of these repairs. Leonard, in Exhibit 1, has budgeted repairs to be around 5%, or roughly $2,200. One of the most important parts of the sale agreement is the purchase price, agreed upon by both the buyer and seller. A security deposit is necessary to show that the buyer is committed to this transaction while the payment is due whenever the transaction of the deed takes place. Title deeds also play an important factor as they consist of documents that show...
Words: 478 - Pages: 2
...Goods is made this 15 day of March, 2015 by and between Sarah Stillwell, a baker at a cupcake shop in Tacoma, with its principal place of business at Tacoma, and Mike's Food Distributors, a vendor who delivers goods, with its principal place of business being his personal food distribution transportation. This Contact is being made for the purchase of the goods described below. Quantity of Goods: a.) 24 Dozen Eggs b.) 30 Pounds of Baking Flour c.) 20 Pounds of Sugar d.) 10 Gallons of milk Quality of Goods: 1.) "Good Condition Goods" means each of the goods are fresh. a.) 24 dozen eggs are clean and none are cracked or broken b.) All pounds and gallons and dozens are all present at arrival time c.) Organic, fresh goods 2.) "Defective Goods" means goods are broken or expired a.) 10 gallons of milk are expired or sour b.) There are eggs broken in the 24 dozen delivered Payment Term: Payments have been negotiated between Sarah and Mike. Sarah paying a $600 cash amount every week when the goods are delivered. Prices: Past due payments by one hour will be subject to a service charge of 10 percent. If any goods are defective Sarah will not accept then and only pay for those products in good condition. Shipment: All shipments F.O.B. to Tacoma Cakes, Tacoma and are exclusive of all taxes, and freight charges, which shall be paid by the Buyer. Delivery to carrier constitute delivery to Buyer. Risk Of Loss: It is the Buyer’s responsibility...
Words: 772 - Pages: 4
...Awesome Wood to Germany This contract of Sale of Good made and effective this 24.12.2012, by and between Germany as buyer and Awesome Ltd as a seller. (CISG Article 1) Awesome Ltd desires to sell to Germany, and Germany desires to purchase directly from Awesome Ltd, certain personal property. Therefore, in consideration of the mutual promises herein contained, the parties hereto agree as follows: 1. Sale. Awesome Ltd agrees to sell, transfer and convey to Germany, and Germany agrees to purchase the following personal property: 1. 1500m3 of Finnish pinewood in form of logs. Awesome Ltd will not be liable of the goods after the delivery, if Germany decides to sell forward / transfers goods to a third party company. 2. Price. Buyer shall pay Seller for the Goods €510/m3. Germany will make payment of the full purchase price by 14 days before delivery of the Goods. Germany’s right of inspection as set forth in Section 4 below. In the event that the purchase price is not timely paid, in addition to its other remedies, Awesome Ltd may impose, and Buyer shall pay, a late payment charge equal to thirteen (13%) of the overdue balance amount each beginning week (weeks begin from Mondays). 3. Shipping. Germany shall purchase goods according to Incoterms FOB Awesome Ltd.’s location and be responsible for all expenses associated with shipping. The risk of loss from any casualty to the Goods, regardless of the cause, shall be upon Germany upon the delivery of the Goods to Germany’s...
Words: 1292 - Pages: 6
