Vehicle Sales Agreement: Background

VEHICLE SALES AGREEMENT
THIS VEHICLE SALES AGREEMENT is made this day of , 20 , by and

among of (hereinafter known as
"Seller") and , of (hereinafter known as "Buyer").
Buyer and Seller shall collectively be known herein as "the Parties".
BACKGROUND
WHEREAS, Seller desires to sell the vehicle described below, known herein as the "Acquired
Vehicle", under the terms and conditions set forth below;
WHEREAS, Buyer desires to purchase the Acquired Vehicle offered for sale by Seller under the
terms and conditions set forth below; and, therefore,
TERMS AND CONDITIONS
IN CONSIDERATION of the mutual promises and other valuable consideration exchanged by

the Parties as set forth herein, the Parties, intending to be legally bound, hereby agree as follows:
A. Description of Acquired Vehicle.
1. Make:
2. Model:
3. Body Type:
4. Body Color:
5. Year:
6. Miles:
7. Vehicle Identification Number ("VIN"):
B. Consideration.
1. Purchase Price. The total purchase price to be paid by Buyer to Seller for the
Acquired Vehicle is Naira (N )
(hereinafter "Purchase Price") consisting of the following components:
C. Delivery of Acquired Vehicle and Conveyance of Title
1. Delivery of Acquired Vehicle. Seller shall deliver the Acquired Vehicle, and
Buyer shall take possession of same, at Seller's premises (either in person or
through a third party) on or before ("Delivery Date"). If delivery is
to be made at a date after the execution of this contract, it is Seller's duty to
ensure that the Acquired Vehicle is delivered in the same condition as when last
inspected by the Buyer (or, if no Buyer inspection, the execution date of this
agreement). It is Buyer's duty, either in person or through a third party to appear
at Seller's premises during standard business hours on or before the Delivery
Date to remove the Acquired Vehicle from Seller's premises. However, if Buyer
fails to appear at Seller's premises on or before the Delivery Date to accept
possession of the Acquired Vehicle, then risk of loss passes to the Buyer on the
Delivery Date.
2. Conveyance of Title. Seller shall convey title to Buyer upon delivery of the
vehicle to Buyer. Seller agrees and covenants to execute all documents presented
by Buyer which are necessary to finalize transfer of title and registration upon the
Acquired Vehicle to Buyer.
D. Representations, Warranties, and Disclosures
1. Warranties.
This vehicle is sold "AS IS", and Seller does not in any way, expressly or
impliedly, give any warranties to Buyer. Seller expressly disclaims any
implied warranties of merchantability or of fitness for a particular purpose.
2. Odometer Declaration. Seller hereby states that the odometer in the Acquired
Vehicle now reads miles and to the best of Seller's knowledge it
reflects the actual mileage of the vehicle described herein.
3. Buyer Representation. The individual signing this agreement on behalf of
Buyer hereby represents to Seller that he or she has the power and authority to do
so on behalf of Buyer.
E. Buyer's Responsibility −− Insurance and Tags. Buyer acknowledges that unless
prohibited by applicable law, any insurance coverage, license, tags, plates or registration
maintained by Seller on the Acquired Vehicle shall be canceled upon delivery of the
Acquired Vehicle to, and the acceptance of, by Buyer.
F. Continuation of Representations and Warranties. All representations and warranties
contained in this Agreement (if any) shall continue in full force and effect after execution
of this agreement. If either party later learns that a warranty or representation that it made
is untrue, it is under a duty to promptly disclose this information to the other party in
writing. No representation or warranty contained herein shall be deemed to have been
waived or impaired by any investigation made by or knowledge of the other party to this
Agreement.
G. Indemnification of Attorneys Fees and out-of-pocket costs. Should any party
materially breach this agreement (including representations and warranties made to the
other side), the non-breaching party shall be indemnified by the breaching party for its
reasonable attorneys fees and out-of-pocket costs which in any way relate to, or were
precipitated by, the breach of this contract (including the breach of representations or
warranties). This provision shall not limit in any way the remedies either party may have
otherwise possessed in law or equity relative to a breach of this contract. The term "out-
of-pocket costs", as used in this contract, shall not include lost profits.
H. Integration. This Agreement, including the attachments mentioned in the body as
incorporated by reference, sets forth the entire agreement between the Parties with regard
to the subject matter hereof. All prior agreements, representations and warranties, express
or implied, oral or written, with respect to the subject matter hereof, are hereby
superseded by this agreement. This is an integrated agreement.
I. Severability. In the event any provision of this Agreement is deemed to be void, invalid,
or unenforceable, that provision shall be severed from the remainder of this Agreement
so as not to cause the invalidity or unenforceability of the remainder of this Agreement.
All remaining provisions of this Agreement shall then continue in full force and effect. If
any provision shall be deemed invalid due to its scope or breadth, such provision shall be
deemed valid to the extent of the scope and breadth permitted by law.
J. Modification. Except as otherwise provided in this document, this agreement may be
modified, superseded, or voided only upon the written and signed agreement of the
Parties. Further, the physical destruction or loss of this document shall not be construed
as a modification or termination of the agreement contained herein.
K. Acknowledgements. Each party acknowledges that he or she has had an adequate
opportunity to read and study this Agreement, to consider it, to consult with attorneys if
he or she has so desired.
L. Exclusive Jurisdiction for Suit in Case of Breach. The Parties, by entering into this
agreement, submit to jurisdiction in for adjudication of any
disputes and/or claims between the parties under this agreement. Furthermore, the
parties hereby agree that the courts of shall have exclusive jurisdiction
over any disputes between the parties relative to this agreement, whether said disputes
sound in contract, tort, or other areas of the law.
M. State Law. This Agreement shall be interpreted under, and governed by, the laws of the
state of .
IN WITNESS WHEREOF and acknowledging acceptance and agreement of the foregoing, Seller
and Buyer affix their signatures hereto.
SELLER BUYER
Dated: , 20 Dated: , 20

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VEHICLE SALES AGREEMENT

THIS VEHICLE SALES AGREEMENT is made this day of , 20 , by and

TERMS AND CONDITIONS

IN CONSIDERATION of the mutual promises and other valuable consideration exchanged by

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