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        TYPICAL CONTRACT
 
   

Outline of a typical contract regarding the continuous sale and purchase between two parties.


1.       Title

                ...Continuous Sale and Purchase Agreement

2.      Premises

                ...Place of execution, date, parties are indicated to determine governing laws

3.      Whereas clauses

                ...Background of the conclusion of agreement for interpreting provisions

4.      Operative part

(1)       Definition

(2)       Duration

(3)       Basic Agreement

                ..."shall" is used to mean obligations, and "may" for rights

(4)       Trade terms

              (a) Price

                ...Price list may be attached

              (b) Quality

                ...certain quality standards are guaranteed

              (c) Quantity

                ...Minimum purchase requirements may be stipulated

              (d) Shipment

                ...FOB, CFR, CIF

              (e) Payment

                ...L/C, D/P, D/A, T/T

(5)       Termination

(6)       Assignment

(7)       Force Majeure

(8)       Secrecy

(9)       Notice

(10)   Governing Law

(11)   Jurisdiction

(12)   Arbitration

(13)   Entire agreement

(14)   Closing

5.      Signature

 
 
        Recommended books for reference
 
   
   
(Name of book) (Name of book)
Warren's Forms of Agreement Contracts
   
(Publisher) (Publisher)
Matthew Bender Foundation Press
   
(Authors) (Authors)
O.L. Warren John P. Dawson
G.C. Markuson William Burnett Harvey
G. Glickman Stanley D. Henderson
   

 

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