Last modified:Thursday 31 October 2019
When selling a product or service, it may be that both parties sign a contract. A purchase or sale contract must meet certain criteria; otherwise, it may lose its legal value.
Purchase and sale contract
A purchase or sale contract is a contract by which a party agrees to provide a product in exchange for payment from another party.
In principle, a written contract (generally a private agreement) is only payable from an amount of 371.84 Euros or more. A contract allows the parties to demonstrate the existence of an agreement, which is useful in case of a dispute.
- The seller must provide the item sold by the deadline agreed, as well as accompany this with a warranty.
- The buyer agrees to accept the item delivered and to pay the price thereof.
Conditions for a valid contract
If you conclude this type of contract, the following general validity rules shall apply.
- There is complete agreement between the parties. There must be no question of deception or coercion.
- The parties must have the capacity to conclude a contract.
- The agreement must have a clear and legal purpose.
- The business concerned must be legal.
Time and place of delivery
If no time or place is agreed, this assumes in principle the immediate delivery of the item to the place where the item is located at the time of the contract's conclusion. If the sale contract indicates the place of delivery, this location shall prevail.
The buyer may legally terminate the contract if the time stipulated in the contract has passed without delivery taking place. The commercial uses and/or specific circumstances of the conclusion of the sale generally allow the time required by both parties to be deduced.