Agreement for Sale of Stock-in-Trade, Furniture and Effects

Agreement for Sale of Stock-in-Trade, Furniture and Effects

This agreement is made this …………….. day of ………..1999 between AB  of     etc. (hereinafter called the vendor), of the one part, and CD of etc. (hereinafter called the purchaser), of the other part:

Now this agreement witnesses and the parties hereby agree as follows:

1. The vendor will sell and the purchaser will purchase, at the valuation and upon the terms hereinafter mentioned, all the stock, implements, trade utensils, household furniture, fixtures, fittings and effects fully mentioned and described in the Schedule hereunder now being in and about the, etc., premises, at present in occupation of the vendor.

2. The sale of the stock, implements, etc., shall be “as they are and where they are” and no complaint on any account shall be entertained after the sale.

3. The purchaser shall deposit with the vendor a sum of Rs. ………… as earnest money and shall pay the balance immediately after the valuation is made unless the time for payment is extended by mutual consent when and in such event the goods shall be at the risk of the purchaser.

4. The valuation of the goods shall be made on or before the ………. day        of ………. unless the date is extended by mutual consent when the purchaser shall make it convenient to attend at the sale and shall immediately upon completion thereof pay the balance to the vendor, who will thereupon deliver to the purchaser possession of the said movables and effects.

5. The said valuation will be made by two independent valuers, one to be chosen by each party, or by an umpire to be chosen by such valuers before entering upon such valuation, and such valuation shall be deemed to be, for all purposes, an arbitration within the meaning of the Arbitration and Conciliation Act 1996 and its statutory re-enactment or modification.

6. In the case the purchaser shall refuse or neglect to pay the balance amount on such valuation on the date thereof, he shall lose and forfeit the deposit and the goods shall be sold by auction and he shall further be liable for the shortfall, if any. If however, the vendor refuses or neglects to deliver up possession of the said movables and effects, then and in such an event he shall be liable to pay to the purchaser a sum of Rs. ………….. as liquidated damages, and this deed shall become void to all intents and purposes.

The Schedule of goods above referred to

In witness whereof the parties hereto have executed these presents on the day, month and year first above-written.

Signed, sealed and delivered by the

said AB in presence of:                                                                           AB

Signed, sealed and delivered by the

said CD in presence of:                                                                           CD

Disclaimer:

The information contains in this web-site is prepared for educational purpose. This site may be used by the students, faculties, independent learners and the learned advocates of all over the world. Researchers all over the world have the access to upload their writes up in this site. In consideration of the people’s participation in the Web Page, the individual, group, organization, business, spectator, or other, does hereby release and forever discharge the Lawyers & Jurists, and its officers, board, and employees, jointly and severally from any and all actions, causes of actions, claims and demands for, upon or by reason of any damage, loss or injury, which hereafter may be sustained by participating their work in the Web Page. This release extends and applies to, and also covers and includes, all unknown, unforeseen, unanticipated and unsuspected injuries, damages, loss and liability and the consequences thereof, as well as those now disclosed and known to exist.  The provisions of any state’s law providing substance that releases shall not extend to claims, demands, injuries, or damages which are known or unsuspected to exist at this time, to the person executing such release, are hereby expressly waived. However the Lawyers & Jurists makes no warranty expressed or implied or assumes any legal liability or responsibility for the accuracy, completeness or usefulness of any information, apparatus, product or process disclosed or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product process or service by trade name, trade mark, manufacturer or otherwise, does not necessarily constitute or imply its endorsement, recommendation or favouring by the Lawyers & Jurists. The views and opinions of the authors expressed in the Web site do not necessarily state or reflect those of the Lawyers & Jurists. Above all, if there is any complaint drop by any independent user to the admin for any contents of this site, the Lawyers & Jurists would remove this immediately from its site.