What Should Be Included in a Sales Agreement?

Sales agreements and sales contracts are often full of fine print and obscure legal terminology, but most of them boil down to a handful of basic points. When you draft an agreement or study an existing

• A detailed description of the goods or services for sale
  You may want to attach a separate list or schedule to the agreement that covers this.
  
• The total payment due, along with the time and manner of payment
  If the buyer plans on paying in installments, describe the installment plan.
  
• The responsible party for delivering the goods, along with the date and time of delivery
  
• Who is responsible if the goods are lost or damaged during delivery
  
• Warranty or guarantee information for the goods or services
  
• How long the buyer has to inspect or evaluate the goods before taking legal possession
  
• How each party must deliver changes or notices related to the agreement
  
• The state whose laws will govern the agreement
  
• A clause stating that the agreement is the only legal document covering the sale and that no other agreements, written or oral, will be legally binding.
  
• A clause stating that both parties must approve any changes or additions to the agreement in writing