A Sales Contract is a contract between a seller and a buyer for the sale of goods, services, or both. It lays out the terms of a transaction for goods or services, identifying the goods sold, listing delivery instructions, the inspection period, any warranties, and the details of payment.
These agreements can also be differentiated depending on the method of payment. A simple Sales Contract is used when a buyer pays the full price of the product immediately. An Installment Sales Contract is used in cases where a buyer purchases an item on an installment basis.
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