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Sale and purchase agreement, contract

Sale and purchase agreement, contract - Assignment Example

Summary

The payment is to be made in a down payment of SR1.500.000 upon the signing of sale and purchase agreement deal. Then the reaming amount of SR 500.000 paid upon the provision of land ownership…

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Subject: Law
Type: Assignment
Level: High School
Pages: 3 (750 words)
Downloads: 2
Author: izboncak

Extract of sample "Sale and purchase agreement, contract"

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ivers the Goods to Carrier or Bill of Sale to Purchaser: The seller allows the allocation of his land to the buyer, which in this cases the good, is land upon the completion of the remaining amount of money, which is SR 500.000. Any Risk of Loss or Damage is transferred to the Purchaser when: land sales and purchase agreement involves a lot of risk bearing. If the land on sales is by law owned by the government for instance, the purchaser will bear the risk of losing his money to the seller. A comprehensive agreement should henceforth be arrived at after the land search process as per the legal requirements by land laws have been constitutionally verified.

Purchaser Receives the Goods or a Bill of Sale: Land sales is instant upon the payment of full amounts of money by the buyers. In Ahmed and Saleh’s case, there would be need to wait until the last payments are made an title issued in the name of the buyer then the transfer of ownership would be legally made. Seller delivers the Goods to a Carrier or a Bill of Sale is given to the Purchaser: The bill of sale must be issued to the purchaser of the land as there is some monetary value already attached to this sales. Mr. Saleh has paid in deposit SR 1.

5 hence he is allowed to acquire a bill of sale to warrant him the unconditional ownership of this land in case of any mischief by the seller. Whether Assignment of this Agreement is allowed: the assignment of this agreement would be finally sealed as both Ahmed and Saleh are in a business agreement wherein there must be a willing seller and willing buyer. Warranty (what I am promising about the Goods): The seller must promise on the legitimacy of his land whereas the purchaser must pledge the payment of the remaining sum of money that is SR 0.

5 million in this sale and purchase agreement. Additional Clauses: Additional clauses may include the validity of the land ownership. In this case the land is purchased by a foreigner thus the time frame for ownership of

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