Boat Sale Contract
Boat Sale Contract
This Boat Sale Contract ("Contract") is entered into on [Date], between [Your Name], hereinafter referred to as "Seller," and [Buyer's Name], hereinafter referred to as "Buyer."
1. Description of Boat
Make: Sea Ray
Model: Sundancer 320
Year: 2023
Hull Identification Number (HIN): SR123456789
2. Purchase Price:
Total Purchase Price: $100,000.00
Deposit Amount: $10,000.00
Payment Method: Wire Transfer
3. Terms of Sale
3.1 Condition of Boat at Sale
The Seller warrants that the boat is in good condition and free from any defects at the time of sale, except as otherwise disclosed.
3.2 Inspection Period
The Buyer shall have 7 days from the delivery date to inspect the boat and notify the Seller of any defects or discrepancies.
3.3 Warranties
The Seller makes no warranties, express or implied, except as specifically stated herein.
4. Delivery and Possession
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Delivery Date: [Date]
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Location for Delivery: [Delivery location]
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Transfer of Title and Registration: The Seller shall transfer the title and registration of the boat to the Buyer upon receipt of full payment.
5. Responsibilities
5.1 Seller's Responsibilities
The Seller shall ensure that all necessary documents for the transfer of ownership are provided to the Buyer promptly upon request.
5.2 Buyer's Responsibilities
The Buyer shall inspect the boat within the specified inspection period and notify the Seller of any defects or issues.
5.3 Costs and Fees
Each party shall bear their respective costs and fees associated with the sale, including but not limited to taxes, registration fees, and transfer fees.
6. Representations and Warranties:
6.1 Seller's Representations
The Seller represents that they have the full legal authority to sell the boat and that there are no liens or encumbrances on the boat except as disclosed.
6.2 Buyer's Representations
The Buyer represents that they have the necessary funds to complete the purchase and that they are not aware of any undisclosed defects or issues with the boat.
7. Default and Remedies
7.1 Default by Seller
If the Seller fails to transfer the title and registration as agreed, the Buyer may seek specific performance or terminate the contract and seek damages.
7.2 Default by Buyer
If the Buyer fails to make payment as agreed, the Seller may retain the deposit and seek legal remedies for breach of contract.
7.3 Remedies
The parties agree that their default remedies shall be limited to those specified herein and shall not exceed the total purchase price of the boat.
8. Governing Law and Jurisdiction
8.1 Governing Law
This Contract shall be governed by the laws of [State/Country].
8.2 Jurisdiction
Any disputes arising out of or related to this Contract shall be resolved exclusively in the courts of [State/Country].
9. Entire Contract
9.1 Modifications
Any changes or alterations that need to be made to this Contract have to be put down in written format and it is necessary that both the involved parties provide their signatures to validate these modifications.
9.2 Severability
If any provision of this Contract is discovered to be either invalid or unenforceable, it is to be understood and agreed that the remaining provisions contained within this agreement shall not be affected and they shall continue to remain in full force and effect.
10. Signatures
In Witness Whereof, the parties hereto have executed this Agreement on the date first above written.
[Buyer's Name]
[Date Signed]
[Your Name]
[Date Signed]
