CAR / BIKE SALE AGREEMENT
BETWEEN
__________, of __________, mobile __________ (the "Seller");
AND
__________, of __________, mobile __________ (the "Buyer").
The Seller and the Buyer are each a "Party" and together the "Parties".
RECITALS
A. The Seller is the registered owner of the vehicle described in Schedule I (the "Vehicle").
B. The Seller has agreed to sell, and the Buyer has agreed to purchase, the Vehicle on the terms of this Agreement.
NOW THIS AGREEMENT WITNESSES as follows.
- 1. SALE AND PRICE
- 2. CONDITION OF THE VEHICLE
2.1 The Buyer has inspected the Vehicle, including a test drive or test ride, and takes it in the condition seen and in its present mechanical state, ordinary wear and tear excepted.
2.4 Except for what is disclosed under clause 2.3, the Seller gives no warranty as to the condition, fitness or performance of the Vehicle, and the sale is otherwise on an as-is basis.
- 3. TITLE AND EXISTING FINANCE
3.3 The Seller warrants that the Seller has good and marketable title to the Vehicle, full power to sell it, and that except as disclosed above the Vehicle is free from any hypothecation, lien, attachment or claim of any third party.
- 4. ROAD TAX, INSURANCE AND CHALLANS
4.3 Save as disclosed under clause 4.2, the Seller is responsible for every challan, fine or liability arising from the use of the Vehicle before delivery, and the Buyer is responsible for every such matter arising from its use after delivery, whether or not the transfer of registration has by then been completed.
- 5. TAXES
- 6. DELIVERY
6.2 Risk in the Vehicle passes to the Buyer on delivery. Until delivery the Seller shall keep the Vehicle insured and shall bear the risk of loss or damage to it.
- 7. TRANSFER OF REGISTRATION
7.3 If the Party responsible for the transfer under clause 7.1 fails to report or complete it within the time the Motor Vehicles Act, 1988 allows, the other Party may report the transfer independently to the extent that Act permits, and may complete the transfer at the defaulting Party's cost, recovering that cost from the defaulting Party.
7.4 Until the transfer of registration is completed, the Seller remains the registered owner of the Vehicle for every purpose that depends on the RTO record, and the indemnity in clause 8 applies to that period.
- 8. INDEMNITY
8.1 The Seller shall indemnify the Buyer against any claim, liability, fine or challan arising from the ownership or use of the Vehicle before delivery, and against any loss the Buyer suffers because a fact about title, hypothecation or encumbrance disclosed under clause 3 or clause 4 was untrue.
8.2 The Buyer shall indemnify the Seller against any claim, liability, fine or challan arising from the use, possession or operation of the Vehicle after delivery, including any period after delivery but before the transfer of registration is completed, and shall co-operate fully and promptly with the Seller in completing that transfer.
- 9. DEFAULT
9.2 If the Buyer fails to complete payment of the Sale Price in full, the Seller may decline to deliver the Vehicle, or, where delivery has already taken place, may treat the failure as a material breach and pursue recovery of the balance with interest as above; nothing in this clause authorises the Seller to retake possession of the Vehicle otherwise than by agreement or through due process of law.
- 10. DISPUTE RESOLUTION AND GOVERNING LAW
10.3 This Agreement is governed by the laws of India as in force at the place of execution.
- 11. GENERAL
11.1 This Agreement is the entire agreement between the Parties about the sale of the Vehicle and supersedes all prior discussions.
11.2 No amendment is effective unless made in writing and signed by both Parties.
11.3 If any provision is held invalid or unenforceable, the rest of this Agreement continues in effect.
SCHEDULE I — THE VEHICLE
SIGNED by the SELLER
__________
Signature: ______________________________
SIGNED by the BUYER
__________
Signature: ______________________________
WITNESSES