Car Purchase Agreement
This Car Purchase Agreement , dated October 7, 20XX, is between Barbara Balram (the
“Seller”) and Tom Rogers (the “ Buyer”). Background
This Agreement provides for the sale of the Seller’s red, 20XX Acura to the Buyer. Accordingly, the parties agree as follows:
Article 1—Definitions
1.1Definitions. The terms defined in the preamble have their assigned meanings and each of the following terms has the meaning assigned to it. “Agreement” means this Car Purchase Agreement, as amended from time to time. “Car” means the car that is the subject of this Agreement. “Closing” means the consummation of the transactions that this Agreement contemplates.
“Closing Date” has the meaning assigned to it in Section 2.4.1.
“First Down-Payment ” has the meaning assigned to it in Section 2.3.1. “Inadequacy Certificate ” means a certificate stating that the Car is in poor operating condition, normal wear and tear excepted. “Inspection Down-Payment ” had the meaning assigned to it in Section 2.3.2
“Manufacturer’s Warranty ” means the documentation which refers to the terms and situations in which repairs or exchanges will be made in the event that the product does not function as originally described or intended. This study source was downloaded by 100000836386117 from CourseHero.com on 06-20-2022 09:12:33 GMT -05:00
https://www.coursehero.com/file/71133860/Car-Purchase-Agreement-107docx/ “Mechanic’s Inspection ” means the careful examination of the Car by a certified mechanic. “Satisfactory Certificate ” means a certificate stating that the Car is in a good operating condition, normal wear and tear excepted. Article 2—Purchase and Sale
2.1Purchase and Sale . At the Closing, the Seller shall sell the Car to the Buyer, and the Buyer shall purchase the Car from the Seller. 2.2Purchase Price. The purchase price for the Car is $11,000. 2.3Payment of the Purchase Price. The Buyer shall pay the $11,000 purchase price as follows:
2.3.1$1,100, concurrently with the execution and delivery of this Agreement. 2.3.2$1,100, no later than five business days after completion of the mechanic’s
inspection. 2.3.3$8,800 at the Closing by certified check. 2.4The Closing. The Closing is to occur
2.4.1on November 30, 20XX or another date as to which the Seller and the Buyer agree (the date of the Closing, “ Closing Date”); and
2.4.2 at Workhard & Succeed LLP, 278 Appletree Lane, Glencoe, Illinois, beginning at 1:00 p.m. local time. 2.5Instruments of Transfer; Payment of Purchase Price; Further Assurances. (a)Seller’s Deliveries . At the Closing, the Seller shall This study source was downloaded by 100000836386117 from CourseHero.com on 06-20-2022 09:12:33 GMT -05:00
https://www.coursehero.com/file/71133860/Car-Purchase-Agreement-107docx/
This Car Purchase Agreement , dated October 7, 20XX, is between Barbara Balram (the
“Seller”) and Tom Rogers (the “ Buyer”). Background
This Agreement provides for the sale of the Seller’s red, 20XX Acura to the Buyer. Accordingly, the parties agree as follows:
Article 1—Definitions
1.1Definitions. The terms defined in the preamble have their assigned meanings and each of the following terms has the meaning assigned to it. “Agreement” means this Car Purchase Agreement, as amended from time to time. “Car” means the car that is the subject of this Agreement. “Closing” means the consummation of the transactions that this Agreement contemplates.
“Closing Date” has the meaning assigned to it in Section 2.4.1.
“First Down-Payment ” has the meaning assigned to it in Section 2.3.1. “Inadequacy Certificate ” means a certificate stating that the Car is in poor operating condition, normal wear and tear excepted. “Inspection Down-Payment ” had the meaning assigned to it in Section 2.3.2
“Manufacturer’s Warranty ” means the documentation which refers to the terms and situations in which repairs or exchanges will be made in the event that the product does not function as originally described or intended. This study source was downloaded by 100000836386117 from CourseHero.com on 06-20-2022 09:12:33 GMT -05:00
https://www.coursehero.com/file/71133860/Car-Purchase-Agreement-107docx/ “Mechanic’s Inspection ” means the careful examination of the Car by a certified mechanic. “Satisfactory Certificate ” means a certificate stating that the Car is in a good operating condition, normal wear and tear excepted. Article 2—Purchase and Sale
2.1Purchase and Sale . At the Closing, the Seller shall sell the Car to the Buyer, and the Buyer shall purchase the Car from the Seller. 2.2Purchase Price. The purchase price for the Car is $11,000. 2.3Payment of the Purchase Price. The Buyer shall pay the $11,000 purchase price as follows:
2.3.1$1,100, concurrently with the execution and delivery of this Agreement. 2.3.2$1,100, no later than five business days after completion of the mechanic’s
inspection. 2.3.3$8,800 at the Closing by certified check. 2.4The Closing. The Closing is to occur
2.4.1on November 30, 20XX or another date as to which the Seller and the Buyer agree (the date of the Closing, “ Closing Date”); and
2.4.2 at Workhard & Succeed LLP, 278 Appletree Lane, Glencoe, Illinois, beginning at 1:00 p.m. local time. 2.5Instruments of Transfer; Payment of Purchase Price; Further Assurances. (a)Seller’s Deliveries . At the Closing, the Seller shall This study source was downloaded by 100000836386117 from CourseHero.com on 06-20-2022 09:12:33 GMT -05:00
https://www.coursehero.com/file/71133860/Car-Purchase-Agreement-107docx/
