The terms and conditions are the terms of the seller for the sale of goods or the provision of services to the buyer of goods and the acceptance of such goods and services.
The most common experience with these activities is payment for delivery, such as payment for goods in a supermarket or grocery store, or payment for services provided by a dentist or installer.
Other Terms and Conditions
There are other conditions that apply to more complex transactions, some of which are:
* Representation – Representation can be any form of advice, recommendations given by the seller in relation to the goods. Most sellers may have a sales condition that whatever the vendor could indicate or make in relation to these goods, they can not rely on them and the buyer should contact them before purchasing the goods. Whether the seller can rely on such a condition will depend on the circumstances surrounding the representation.
* Sales according to description and compliance with the description – Especially when selling goods in large or large quantities, buyers first check the sample before placing orders. Sales according to the description will occur if the goods do not have to exist. It is a required condition of a sale that the goods will confirm the description.
* Terms or Warranty – A condition is a provision in a contract, the breach of which allows the buyer to terminate the contract and to refuse the goods. In the case of a guarantee, the buyer can only sue. Mostly goods of a technical nature, such as household and computer equipment, come with the manufacturer's "defect warranty." Whether the provision in the contract is a condition or warranty will depend on the construction of the contract
* Implicated terms – implied terms are those terms do not appear in the contract but are claimed by law or industrial practice Some common accepted terms of reference are: that the seller owns the goods that are sold or has the right to sell the goods, that the product sold is suitable for the purpose and that the goods have a negotiable quality
* Supplies and repayments – The contract may specify when and how the goods are to be delivered, sometimes the seller may have a condition that any delay on his part does not entitle the buyer to sue for damages or to cancel the order
* Acceptance of goods – Buyer is required to check the goods after delivery The seller may, as a condition of sale, decide to dispose of any liability once the goods have been delivered.
* Risk – Risk is any product-related hazards, such as risk of loss or risk of damage. The usual term of the contract is that the risk of the goods passes to the buyer after delivery.
* Preservation of Property Rights – The seller may wish to retain a claim for goods if the buyer does not pay for the goods. The goods will not be delivered to the buyer after delivery. Upon bankruptcy or liquidation of the buyer, the seller may be able to take over the goods from the manager or the liquidator and, after the buyer's assets have been removed, he should not have to wait in line with the other creditors for payment.
* Determining the Payment Period – While most sellers would prefer a prepayment or payment on delivery, in the business, the loan is sometimes allowed to the buyer to pay for the goods after, say, 30 days or 60 days. Some vendors may charge interest on sold bills.
There are various federal and state laws that regulate provisions on goods and services. Seller may not be able to surrender certain legal obligations.
Vendors should review their existing contracts or have legal advisors to develop certain standard business terms. Buyers may want these contracts to be reviewed by their attorney before they are executed.