Contract for sale of motor vehicles

Posted: September 4th, 2013

Name:

Instructor:

Course:

Date:

Contract for sale of motor vehicles

Dated 06 of May 2012

(1) Toyota limited- buyer

(2) Ferrari Group limited-seller

1 Definition and Interpretations

In these Conditions:-

“The Buyer”             means the party who will express interest in purchasing the motor vehicles from the car selling company.

“These Conditions”  means the agreed upon regulations that govern all the aspects of this transaction.

“the Goods”              means the different merchandise that are involved in the exchange for money of any other payment form.

“The Seller”              means Ferrari Group a company in the United States of America under number 25648RTE whose registered office is at Washington DC

2 Applications of Conditions

The seller shall be the sole dictator of the quotation of the goods that shall be on sale and which the buyer is bound to adhere to, provided it is acceptable to the buyer.

3 Basis of Sale

The seller will be the only individual that can officially handle the transactions unless this duty is delegated to another employee or agent and authenticated on paper.

4 Price of the Goods

The price of the Goods will be as listed down in the sellers’ quotation and which will be the assumed price as at the date of signing this contract.

5 Terms of Payment

The payment for the purchase of motor vehicles will be done as per agreed on this contract. This will be through writing a cheque. Changing this mode of payment will be through writing and will be appended to this document.

6 Deliveries

The vehicles will be delivered as per the agreed terms and conditions in this document. The agreed method will be through airline transport to the designated address of the buyer.

7 Warranties and Liability

The warranties that apply to this calibre of goods being purchased is covered under the Motor Vehicle clause in the Warranties rules. It stipulates that all warranties for motor vehicles hold true up to a year (12 months) after the date of signing this contract. The warranty shall be limited to physical damage, software malfunction and other mechanical issues not originating from the owners’ own carelessness.

8 Confidentiality, Publications and Endorsements

The following contract and the details contained herein are to be considered the proceedings of the two parties alone. Therefore, the contents of this document will be considered confidential for all purposes unless desired otherwise by either party.

9 Applicable Law and Jurisdiction

The Contract shall operate under the legal requirements and standards of America or any other international regulations governing motor vehicle sale and purchase.

The following are witnesses that this Agreement has been executed on the day and year written above.

SIGNED by

Whittaker, Ralph L.

For and on behalf of Ferrari Group limited

SIGNED by

Barnwell, Vincent E.

For and on behalf of Toyota limited