PURCHASE AGREEMENT
This Purchase agreement is entered into on this ____________ day of
___________, ________ by and between _________________ (hereinafter referred
to as the “Company”) and _____________________ (hereinafter referred to as the
“Client”) and together referred to as the “parties”.
WHEREAS the parties have agreed to the following terms and conditions.
1. Purchase price.
The agreed purchase price is $3,500 for one year with a $1,000 renewal annually.
Parties agree that the payment for all cars should be made in full within two days of
purchase, or the client’s auction access will be revoked.
Each car that is purchased via auction will cost $150 per reassignment.
2. Term.
This agreement shall be for a period of one year from the date of signing hereof.
3. Expenses.
Each party herein shall bear its costs and expenses incurred in connection with the
negotiation, drafting, and execution.
4. Purchased asset.
The parties herein agree to the purchase of the following details; –
(insert details)
5. Assumption of liabilities.
After signing this Agreement and completing the payments by the client, he shall
assume any liabilities or damages beyond the insurance limit of the Company in the
event of an accident.
The parties agree that the Company is not liable for any toll tickets or accidents.
In the event, the dealer plate is lost, the Client will need to buy another one.
The Company will not be responsible for any defects with cars purchased from an
auction.
6. Due diligence.
The Client shall be responsible for conducting his due diligence regarding the
purchased cars.
The Company agrees to provide the Client reasonable access to information and the
cars for inspection.
7. Confidentiality.
Except as may be required by law, the Client agrees that any confidential information
received in confidence will be kept confidential by the Client and its representatives
and will not be disclosed to any Person except otherwise with the specific prior
written consent of the Company.
8. Governing law.
This Agreement shall be construed, interpreted, and governed by the laws of
Manhattan, Kansas.
9. Dispute Resolution.
In case a dispute arises in relation to the terms, interpretation thereof, or
performance of the obligations under this Agreement, the same shall be referred to
mediation, in accordance with the laws of the state of Kansas.
10. Binding Effect.
This Agreement shall be binding upon and for the benefit of the Parties and their
respective heirs, successors, and permitted assigns.
11. Waiver.
The waiver by any Party of a breach of any provision or term contained herein shall
not operate or be construed as a waiver of any prior or subsequent breach of the
same provision or term.
12. Severability.
Suppose any provision of this Agreement is deemed invalid or unenforceable. In that
case, it shall be severed from this Agreement and shall not affect the remaining
provisions, which will continue to apply in full force and effect.
13. Entire Agreement
This Agreement, together with the Schedule hereto, constitutes the entire Agreement
between the Parties about this transaction and supersedes all prior oral or written
agreements, understandings, negotiations, and discussions.
14. Amendment.
Except as otherwise provided herein, no amendment, or modification of, this
Agreement shall be binding unless the same is in writing and executed by each of
the Parties.
15. Assignment.
Neither Party to this Agreement, nor any of the rights and obligations arising
hereunder, may be assigned to a third party without the prior written consent of the
other party.
IN WITNESS WHEREOF, the Parties have duly signed this Asset Purchase
Agreement on the last date noted below.
By the Company; -.
Name:
_____________________________
Signature:
__________________________
Date:
______________________________
By the Client; –
Name:
_____________________________
Signature:
__________________________
Date:
______________________________
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