Purchase Agreement definition: Copy, customize, and use instantly
Introduction
The term "Purchase Agreement" refers to a legally binding contract between two parties wherein one party agrees to purchase and the other agrees to sell goods, services, or property. The agreement typically outlines the terms and conditions under which the transaction will take place, including payment, delivery, and other essential obligations.
Below are various examples of how "Purchase Agreement" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Purchase Agreement" as a contract for goods
This definition ties "Purchase Agreement" to a transaction involving goods.
"Purchase Agreement" means a contract between a buyer and a seller in which the buyer agrees to purchase specified goods, and the seller agrees to deliver those goods under the terms set forth in the agreement, including pricing, delivery dates, and quality requirements.
Definition of "Purchase Agreement" as a contract for property
This definition connects "Purchase Agreement" to a property transaction.
"Purchase Agreement" refers to a legal agreement between a buyer and a seller for the purchase and sale of real property, including land or buildings, outlining the purchase price, payment terms, and any contingencies or special conditions.
Definition of "Purchase Agreement" as a contract for services
This definition links "Purchase Agreement" to a services transaction.
"Purchase Agreement" means a contract in which a buyer agrees to purchase specific services from a service provider, and the service provider agrees to deliver those services according to the terms, including pricing, timelines, and scope of work.
Definition of "Purchase Agreement" as an agreement with financing terms
This definition applies "Purchase Agreement" to a transaction that includes financing terms.
"Purchase Agreement" refers to an agreement in which the buyer agrees to purchase goods or property, and the terms include provisions for financing, such as installment payments, interest rates, and repayment schedules.
Definition of "Purchase Agreement" as an agreement with warranties
This definition ties "Purchase Agreement" to warranties on purchased goods.
"Purchase Agreement" means an agreement in which the seller guarantees certain conditions or qualities of the purchased goods, such as warranties for defects or performance, and specifies remedies in case of non-compliance.
Definition of "Purchase Agreement" as a contract with delivery terms
This definition connects "Purchase Agreement" to delivery obligations.
"Purchase Agreement" refers to a contract that specifies the terms of delivery, including shipping methods, delivery timelines, and costs associated with transporting the purchased goods to the buyer’s location.
Definition of "Purchase Agreement" as a contract for software
This definition links "Purchase Agreement" to software transactions.
"Purchase Agreement" means a contract where the buyer agrees to purchase a software license or subscription, and the seller agrees to grant the buyer access to the software, subject to the terms of use, support, and updates.
Definition of "Purchase Agreement" as an agreement with an inspection clause
This definition applies "Purchase Agreement" to contracts with an inspection clause.
"Purchase Agreement" refers to an agreement in which the buyer reserves the right to inspect the goods or property before finalizing the purchase, ensuring that the products meet specified standards or conditions.
Definition of "Purchase Agreement" as a contract with confidentiality terms
This definition ties "Purchase Agreement" to confidentiality provisions.
"Purchase Agreement" means a contract in which both parties agree to keep certain information related to the transaction confidential, particularly sensitive business or pricing details that may be disclosed during the negotiation or performance of the agreement.
Definition of "Purchase Agreement" as an agreement in a merger or acquisition
This definition connects "Purchase Agreement" to mergers or acquisitions.
"Purchase Agreement" refers to the contract used in mergers and acquisitions where one company agrees to purchase another company’s shares or assets, outlining the purchase price, structure of the transaction, and the conditions of the sale.
Definition of "Purchase Agreement" as a contract with an arbitration clause
This definition applies "Purchase Agreement" to contracts with dispute resolution provisions.
"Purchase Agreement" refers to a contract where the parties agree to resolve any disputes arising from the agreement through arbitration, as opposed to traditional litigation, to ensure quicker and more cost-effective resolution of conflicts.
Definition of "Purchase Agreement" as a contract with a force majeure clause
This definition ties "Purchase Agreement" to unforeseen events.
"Purchase Agreement" means a contract that includes a force majeure clause, allowing either party to delay or cancel the transaction in the event of unforeseen circumstances such as natural disasters, war, or other extraordinary events beyond their control.
Definition of "Purchase Agreement" as a contract for the purchase of inventory
This definition connects "Purchase Agreement" to inventory purchases.
"Purchase Agreement" refers to a contract in which a buyer agrees to purchase inventory or stock from a supplier, specifying the quantity, price, and conditions for delivery of the items.
Definition of "Purchase Agreement" as an agreement with a financing contingency
This definition links "Purchase Agreement" to a contingency based on financing approval.
"Purchase Agreement" means a contract where the buyer's obligation to purchase is contingent upon securing financing or loan approval, ensuring that the buyer has the necessary funds to complete the purchase.
Definition of "Purchase Agreement" as a contract with performance-based terms
This definition applies "Purchase Agreement" to contracts with performance conditions.
"Purchase Agreement" refers to a contract in which the purchase terms are contingent upon certain performance benchmarks or milestones being met, such as the completion of certain services or delivery of goods within specified timeframes.
Definition of "Purchase Agreement" as a contract with a right of first refusal
This definition ties "Purchase Agreement" to a right of first refusal.
"Purchase Agreement" means an agreement that grants the buyer the right of first refusal, allowing them to match any third-party offer to purchase the goods or property before the seller can accept it.
Definition of "Purchase Agreement" as an agreement with a post-sale adjustment
This definition connects "Purchase Agreement" to post-sale adjustments.
"Purchase Agreement" refers to a contract where the final purchase price may be adjusted after the sale based on certain factors, such as the actual inventory count or final valuation of the goods or services.
Definition of "Purchase Agreement" as a contract for the purchase of equipment
This definition applies "Purchase Agreement" to equipment transactions.
"Purchase Agreement" means a contract in which a buyer agrees to purchase specific equipment from a seller, detailing the specifications, warranty terms, and delivery schedule.
Definition of "Purchase Agreement" as a contract with seller financing
This definition links "Purchase Agreement" to seller financing.
"Purchase Agreement" refers to a contract in which the seller agrees to finance the buyer’s purchase of goods or property, specifying the terms of the financing, such as the interest rate, repayment schedule, and security interests.
Definition of "Purchase Agreement" as an agreement with a termination clause
This definition connects "Purchase Agreement" to termination rights.
"Purchase Agreement" refers to a contract that includes a termination clause, giving either party the right to terminate the agreement under specified circumstances, such as failure to meet conditions or deadlines.
Definition of "Purchase Agreement" as a contract for intellectual property
This definition ties "Purchase Agreement" to intellectual property transactions.
"Purchase Agreement" means a contract in which a buyer agrees to purchase intellectual property rights, including patents, copyrights, trademarks, or trade secrets, and the seller agrees to transfer such rights upon payment.
Definition of "Purchase Agreement" as a contract with a delivery schedule
This definition connects "Purchase Agreement" to a specified delivery timeline.
"Purchase Agreement" refers to a contract in which the seller agrees to deliver the purchased goods or services according to a detailed delivery schedule, with specified deadlines and penalties for delays.
Definition of "Purchase Agreement" as a contract with a quantity discount
This definition links "Purchase Agreement" to quantity-based pricing.
"Purchase Agreement" means a contract in which the buyer agrees to purchase goods in bulk, and the seller offers a quantity discount based on the total volume of goods purchased.
Definition of "Purchase Agreement" as an agreement with a return policy
This definition applies "Purchase Agreement" to a contract with a return policy.
"Purchase Agreement" refers to a contract that includes a return policy, allowing the buyer to return goods within a specified period if they do not meet the agreed-upon terms or standards.
Definition of "Purchase Agreement" as a contract with a prepayment clause
This definition ties "Purchase Agreement" to a prepayment requirement.
"Purchase Agreement" means a contract in which the buyer agrees to make a prepayment before the goods or services are delivered, with the balance due upon completion or delivery.
Definition of "Purchase Agreement" as a contract for a lease-to-own arrangement
This definition connects "Purchase Agreement" to a lease-to-own structure.
"Purchase Agreement" refers to a contract in which the buyer agrees to lease the goods or property with the option to purchase at the end of the lease term, at a predetermined price or with terms for purchase.
Definition of "Purchase Agreement" as a contract with seller disclosure
This definition links "Purchase Agreement" to seller disclosure requirements.
"Purchase Agreement" means a contract in which the seller is required to disclose any known defects or issues with the goods or property being sold, and failure to disclose such issues may result in legal claims.
Definition of "Purchase Agreement" as a contract for a future purchase
This definition applies "Purchase Agreement" to a future purchase agreement.
"Purchase Agreement" refers to a contract in which the buyer agrees to purchase goods or services at a future date, with the price, delivery terms, and other conditions determined in advance.
Definition of "Purchase Agreement" as a contract with an exclusivity clause
This definition ties "Purchase Agreement" to exclusivity in transactions.
"Purchase Agreement" means a contract in which the buyer agrees to purchase goods or services exclusively from the seller for a specified period, preventing the buyer from sourcing from competitors during that time.
Definition of "Purchase Agreement" as a contract for a time-limited offer
This definition connects "Purchase Agreement" to time-sensitive transactions.
"Purchase Agreement" refers to a contract in which the buyer is offered goods or services at a discounted price or under special terms, but only if the purchase is made within a specified time frame.
Definition of "Purchase Agreement" as a contract for the purchase of inventory from a manufacturer
This definition links "Purchase Agreement" to a direct purchase from a manufacturer.
"Purchase Agreement" refers to a contract in which a buyer agrees to purchase inventory directly from a manufacturer, with terms covering production timelines, delivery, and pricing adjustments based on order quantities.
Definition of "Purchase Agreement" as a contract for the purchase of services under a subscription model
This definition applies "Purchase Agreement" to subscription-based services.
"Purchase Agreement" means a contract in which a buyer agrees to subscribe to a service, committing to a set duration of service provision, with recurring payments for the term of the agreement.
Definition of "Purchase Agreement" as an agreement involving a third-party payment provider
This definition ties "Purchase Agreement" to third-party payment systems.
"Purchase Agreement" refers to a contract in which the buyer agrees to use a third-party payment provider to complete the transaction, specifying the terms under which payments will be processed and how disputes will be handled.
Definition of "Purchase Agreement" as an agreement involving warranties and indemnities
This definition links "Purchase Agreement" to warranty and indemnity clauses.
"Purchase Agreement" means a contract in which the seller provides warranties regarding the condition and quality of the goods or services, along with indemnity provisions to protect the buyer from any legal claims arising from defects.
Definition of "Purchase Agreement" as an agreement with post-sale support
This definition connects "Purchase Agreement" to post-sale services.
"Purchase Agreement" refers to a contract that includes provisions for post-sale support, including maintenance, troubleshooting, or additional services required after the purchase of goods or services.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.