Contract Of Sales Of Goods And Its Main Features - Page 2

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Questions & answers

The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance. adequate consideration. capacity. and legality.
Generally speaking, the UCC requires that any contract for the sale of goods with a price of $500 or more must be in writing.
5 Essential Elements of a Sales Contract The Description of Goods. Delivery Instructions. Inspection Period. Warranties and Guarantees. Payment Details. Pricing. User's Rights to Access. Service Level Agreement (SLA)
—(1) The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or future goods. (2) There may be a contract for the sale of goods the acquisition of which by the seller depends upon a contingency which may or may not happen.
Elements of a Contract Offer - One of the parties made a promise to do or refrain from doing some specified action in the future. Consideration - Something of value was promised in exchange for the specified action or nonaction. Acceptance - The offer was accepted unambiguously.
Under most circumstances, a sale of goods contract contains at least the following terms: A clearly identified buyer, A clearly identified seller, A definition or description of the goods or services to be sold, and. Any other terms that can help define or specify the terms of the contract.