Glossary
Purchase Agreement (Contract of Sale)
A purchase agreement is a contract under § 409 of the Commercial Code or § 588 of the Civil Code, by which the seller transfers ownership of an item to the buyer for an agreed purchase price.
Full Definition
A purchase agreement must clearly identify the subject of the sale and the purchase price; for real estate, written form and land registry registration are required. For movable property and business transactions (e.g. sale of goods, equipment or receivables) an electronic signature via zipzipdoc is fully sufficient. The AI in zipzipdoc can generate a purchase agreement based on the provided parameters.
Related terms
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