Sale of Goods / Assets Agreement

A clear agreement for the sale and purchase of goods, assets or equipment between a seller and buyer. Covers price, description, delivery, risk transfer, warranties and remedies.

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Legal requirements for this document ▾
  • Both parties must sign for the agreement to be legally binding.
  • Statutory implied terms (fitness for purpose, satisfactory quality, title) may apply regardless of what the written agreement says - particularly in consumer transactions.
  • Seller must have clear title to sell the goods - selling goods you do not own or that are subject to a finance charge may be void or fraudulent.
  • Risk of loss typically transfers to the buyer on delivery unless the agreement states otherwise.
  • For sale of second-hand goods, exclusion of implied warranties may be possible between businesses but is restricted in consumer sales.
  • VAT and sales tax treatment vary by country - verify tax obligations in the relevant jurisdiction.
  • For international sales, the UN Convention on Contracts for the International Sale of Goods (CISG) may apply unless expressly excluded.
  • For business asset sales (goodwill, plant, machinery), additional due diligence is recommended.

This is public legal information, not legal advice. Rules vary by jurisdiction - always verify requirements in your country. For complex situations, consult a qualified solicitor.

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