Overview of a Sale of Goods Contract
What is a Sale of Goods Contract?
A Sale of Goods Contract is a short-form contract between a buyer and a seller for the sale and purchase of goods.
A Sale of Goods Contract sets out simple terms governing the subject matter of the sale, the contract period, the delivery details, the purchase price and the payment terms.
A Sale of Goods Contract is meant for simple, straightforward transactions. For more detailed and elaborate terms, use a Sale of Goods Agreement.
Key points included
- Type of the goods;
- Length of contract period;
- Details of delivery;
- Purchase price and payment terms;
- Method of payment;
- Basic warranties;
- Limitations on the seller’s liabilities;
- When will title and risk pass; and
- Notice period required to terminate this contract.
