Sales Contract -- Installment Payments

Sales Contract -- Installment Payments

Use this sales contract if a buyer will be paying you in installments.  Avoid misunderstandings or confusion with this form, and outline a schedule of payments, purchase price, and delivery date.

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See below for a full product description.

Names

, Seller, and , Buyer, agree to the following sale.

Property Being Sold

Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, the following property:  (the Property).

Condition of Property

Multiple Selection
Label Contract Text
property is new The Property is new.
property is used

The Property is used. Buyer has inspected the Property and will accept it.

 

Multiple Selection
Label Contract Text
seller disclosed defects The seller disclosed the following defects: 
property is used & seller will modify

Buyer has inspected the Property and will accept it except for the following modifications, which Seller agrees to make before delivery: .

 

Multiple Selection
Label Contract Text
seller disclosed defects The seller disclosed the following defects: 

 

Purchase Price

The purchase price of the Property is $.

Down Payment

Alternate Selection
Label Contract Text
down payment Buyer will make a down payment of $ when this contract is signed. This down payment will be applied toward the purchase price.
no down payment Buyer will not make a down payment.

Time of Payment

Buyer will pay Seller the purchase price (less any down payment) in installments as follows: 

Method of Payment

Buyer will pay Seller by:

Multiple Selection
Label Contract Text
personal or business check personal or business check in the amount of $
cashier's check cashier's check in the amount of $
credit card credit card in the amount of $
cash

cash in the amount of $

Delivery

Seller will deliver the Property to Buyer on .

Ownership

Seller has legal title to the Property and is selling the Property free of any liens or liabilities.

Transfer of Ownership

Seller will transfer ownership of the Property to Buyer through:

Multiple Selection
Label Contract Text
receipt

a receipt.

a bill of sale

a bill of sale.

required state documents

such documents as may be required by the state of  to legally transfer the ownership of the Property.

Security Interest

Alternate Selection
Label Contract Text
will not retain a security interest Seller will not retain a security interest in the property.
will retain a security interest Seller will retain a security interest in the property. At the time the property is delivered to Buyer, Buyer will sign and deliver to Seller a security agreement. Buyer also acknowledges that Seller will file a Uniform Commercial Code Financing Statement, which will secure Seller's interest in the Property until the purchase price has been paid in full.

 

Multiple Selection
Label Contract Text
Other Terms and Conditions

Other Terms and Conditions

Entire Agreement

This is the entire Agreement between the parties. It replaces and supersedes any and all oral agreements between the parties, as well as any prior writings.

Successors and Assignees

This Agreement binds and benefits the heirs, successors, and assignees of the parties.

Notices

All notices must be in writing. A notice may be delivered to a party at the address that follows a party's signature or to a new address that a party designates in writing. A notice may be delivered:

(1) in person,

(2) by certified mail, or

(3) by overnight courier.

Governing Law

This Agreement will be governed by and construed in accordance with the laws of the state of .

Counterparts

This Agreement may be signed by the parties in different counterparts and the signature pages combined will create a document binding on all parties.

Modification

This Agreement may be modified only by a written agreement signed by all the parties.

Waiver

If one party waives any term or provision of this Agreement at any time, that waiver will only be effective for the specific instance and specific purpose for which the waiver was given. If either party fails to exercise or delays exercising any of its rights or remedies under this Agreement, that party retains the right to enforce that term or provision at a later time.

Keep Together

Severability

If any court determines that any provision of this Agreement is invalid or unenforceable, any invalidity or unenforceability will affect only that provision and will not make any other provision of this Agreement invalid or unenforceable and shall be modified, amended, or limited only to the extent necessary to render it valid and enforceable.

Seller

Name of business: 
a ____________________________
By: __________________________
Dated: _______________________
Printed name: 
Title:  
Address: 

Buyer

Name of business: 
a ____________________________
By: __________________________
Dated: _______________________
Printed name: 
Title: 
Address: 

 

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