SALES CONTRACT

The sales contract is the legally binding agreement reached by the seller and the buyer (the parties to the contract). It can be made orally or in writing, although it is usual for the contract to be drawn up in writing to prevent disputes.

There are three ways to conclude a sales contract:

1. This is the most normal way of concluding a sales contract, because most offers are non-binding. As non-binding offers can be changed or withdrawn at any time, a sales contract does not exist until the seller confirms the order, making any changes impossible.

2. Sellers tend to make firm offers trading in goods where the prices fluctuate a lot. They set a fixed price and if the buyer doesn't place an order within the period of time where this price is valid? The offer expires. The seller can then make another offer with new prices to keep up with the prices on the market.

3. In this case, if the buyer is not interested in the goods, he is expected to return them within a certain period of time, otherwise he will have to pay for them.

After a sales contract has been concluded, the seller and buyer have to fulfil certain liabilities (that means there are certain things they have to do.) The seller's liabilities are:

• To deliver the goods on time and in perfect condition.

• To ensure that the title to the goods is transferred to the buyer - in other words, the seller has to make sure that the buyer becomes the owner of the goods. This is normally done by passing a special document, the document of title, to the buyer.

The buyer's liabilities are:

• To accept delivery of the goods that prevents him changing his mind after the goods have been sent).

• To pay for the goods within the time agreed.

If one party doesn't fulfil its liabilities, the contract is broken (this is called breach of contract). In this case the other party (the injured party) can claim compensation.

III. Post-reading stage:

2. Consult a dictionary, read and translate the following words:

• the title to the goods • to confirm the order

• to fulfil liabilities • to prevent disputes;

• breach of contract • the price is valid

• to claim compensation • the time agreed

і______• the document of title__________________* injured party___________________

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<== попередня сторінка	\|	наступна сторінка ==>
Learn the contract given above and define all the clauses of the contract. How many clauses does it contain?	\|	Did a breach contract take place? If so, how? If not, why not.

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