Prepare a Sales Contract
Your client, Widgets, Inc., has a factory in Detroit where they produce widgets for sale. They have recently received a large order from Machines, Inc. in Austin, Texas for 2,000 widgets at $100 per widget. The client has not specified any additional terms of the purchase.
Prepare a contract for the sale of these goods that will be in your client's favor on each of the areas that Machines, Inc. failed to specify. Please make sure that your contract addresses the following:
Shipment arrangement (method)
Risk of loss
Delivery (place and method)
Transfer of title
Warranties (express and implied)
In compliance with BrainMass rules this is not a hand in ready contract but is only guidance.
Paragraph 1. Widgets, Inc, hereinafter referred to as the Seller, and Machines Inc referred to as the Buyer, agree on this 15th day of March, in the year 2016 to the following terms.
Identities of the Parties
Paragraph 2: The Seller whose business address is 125 Library Street, in the city of Detroit in the state of Michigan, is in the business of producing widgets for sale. Buyer whose business address is 2565 ...
The answer to this problem explains the preparation of a sales contract . The references related to the answer are also included.
UCC Contracts & Warranties
Does the UCC apply to contracts between merchants only? Are contracts and Warranties used interchangeable in article 2 of the UCC?
Do common law contract apply to UCC?
I am getting confused reading about the different types of warranties covered under article 2 of the UCC, I do not know if the word warranty is the same as contracts.View Full Posting Details