A sales contract is a legal agreement between a buyer and a seller that outlines the terms of a sale, including the delivery of goods, securities, or other personal property. In the United States, these contracts are primarily governed by the Uniform Commercial Code (UCC), while international sales contracts are subject to the United Nations Convention on Contracts for the International Sale of Goods (CISG).
Sales contracts are commonly used in commercial transactions to ensure clarity and mutual understanding between the parties involved. They are essential in various legal contexts, including:
Users can benefit from legal templates provided by US Legal Forms to create their own sales contracts, ensuring compliance with relevant laws.
Here are a couple of examples of abatement:
Example 1: A retailer signs a sales contract with a supplier for the purchase of 1,000 units of a specific product at a set price, outlining delivery dates and payment terms.
Example 2: A homeowner enters into a sales contract to sell their property, detailing the sale price, closing date, and any conditions for the sale (hypothetical example).
Key legal frameworks include:
Examples of state differences (not exhaustive):
| State | Requirement for Written Contracts |
|---|---|
| California | Sales contracts over $500 must be in writing. |
| Texas | Sales contracts for goods over $500 must be written; oral contracts may be enforceable under certain conditions. |
| New York | Sales contracts over $500 must be in writing, similar to the UCC. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Key Differences |
|---|---|---|
| Sales Agreement | A broader term that may include various types of sales. | Sales contracts are specific to the sale of goods, while sales agreements can cover a wider range of transactions. |
| Purchase Order | A document issued by a buyer to request goods from a seller. | A purchase order is often part of the sales contract process, but it is not a legally binding contract until accepted by the seller. |
If you are entering into a sales contract, consider the following steps:
Browse our library of 85,000+ state-specific legal templates.