How To Execute Purchase And Sale Transactions

Table of contents:

How To Execute Purchase And Sale Transactions
How To Execute Purchase And Sale Transactions

Video: How To Execute Purchase And Sale Transactions

Video: How To Execute Purchase And Sale Transactions
Video: How To Fill Out A Real Estate Purchase And Sale Agreement 2024, December
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Registration of purchase and sale transactions is regulated by Chapter 30 of the Civil Code of the Russian Federation. As a rule, sales and purchase transactions are formalized by sales and purchase agreements. There are separate provisions governing wholesale and retail sales.

How to execute purchase and sale transactions
How to execute purchase and sale transactions

Instructions

Step 1

As a general rule, under a sale and purchase agreement, the seller transfers the goods to the ownership of the buyer, who undertakes to accept the goods and pay a certain amount of money for it. The seller's obligation to transfer the goods to the buyer is considered fulfilled either at the time of transfer of the goods to the buyer or his representative, or at the time of placing the goods at the disposal of the buyer. If the seller refuses to transfer the goods, the buyer has the right to refuse to complete the purchase and sale transaction.

Step 2

Registration of a retail sale and purchase transaction is as follows: the buyer pays the cost of the goods, receives a sales or cashier's receipt and takes the goods. From the moment the seller issues to the buyer a cash or sales receipt or other document confirming payment for the goods, the transaction is considered concluded. However, if the buyer does not have such a document, then he has the right to refer to the testimony in confirmation of the transaction.

Step 3

Retail sale and purchase transactions can also be concluded remotely. A retail sale and purchase agreement can be concluded on the basis of the buyer's acquaintance with the description of the goods (in booklets, catalogs, etc.). It will be considered fulfilled from the moment the goods are delivered to the place specified in such an agreement. If a retail sale and purchase transaction is carried out using machines for the sale of goods, then it will be considered concluded from the moment the buyer performs the actions necessary to receive the goods - for example, depositing a certain amount of money into the corresponding opening of the machine.

Step 4

A wholesale purchase and sale transaction is formalized by an agreement. Such an agreement is concluded in writing, its essential conditions are the subject (the product itself), its quantity and range. If these conditions are not specified in the contract, then it will not be considered concluded. The contract also defines other conditions (method of transfer, price of goods, etc.), but they are not considered significant by law. If the parties so wish, they have the right to certify the sale and purchase agreement with a notary, but in practice this is rare. The law simply requires the written form of such a transaction.

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