When you`re looking to buy or sell a car in Nigeria, it`s important to have a written agreement in place to protect both parties. A car sale agreement outlines the terms and conditions of the sale, including the price, payment details, and any warranties or guarantees. In this article, we`ll provide a sample car sale agreement in Nigeria that you can use as a template.
Before we dive into the agreement itself, it`s important to note that any legal document should be reviewed by a lawyer to ensure that it complies with Nigerian laws and regulations. Additionally, it`s important to make sure that both parties fully understand the terms of the agreement before signing.
Sample Car Sale Agreement in Nigeria
This agreement is made on [insert date] between [seller`s name], hereinafter referred to as the “Seller,” and [buyer`s name], hereinafter referred to as the “Buyer.”
1. Vehicle Information
The Seller agrees to sell the following vehicle to the Buyer, with the following details:
Make and model:
Year:
VIN/chassis number:
Odometer reading:
Color:
Other relevant details:
2. Purchase Price
The purchase price for the vehicle is [insert amount in Naira]. The Buyer agrees to pay the full amount of the purchase price within [insert number of days] days from the date of signing this agreement.
3. Payment Details
The Buyer will pay the purchase price in the following manner:
[Insert payment details, such as bank deposit, cash payment, or other agreed-upon method]
4. Delivery of Vehicle
The Seller agrees to deliver the vehicle to the Buyer within [insert number of days] days from the date of signing this agreement. The Buyer agrees to take possession of the vehicle upon delivery.
5. Warranties and Representations
The Seller represents and warrants that:
– The Seller is the legal owner of the vehicle, with full authority to sell the vehicle.
– The vehicle is free from any liens or encumbrances.
– The vehicle is in good condition and has not been in any accidents or sustained any damage that would affect its value or safety.
– The Seller has provided truthful and accurate information about the vehicle`s condition to the Buyer.
6. Title and Registration
The Seller agrees to transfer title of the vehicle to the Buyer upon receipt of the full purchase price. The Buyer agrees to register the vehicle in their name within [insert number of days] days of taking possession of the vehicle.
7. Liability and Indemnification
The Buyer agrees to assume all liability for the vehicle once they take possession. The Buyer agrees to indemnify and hold harmless the Seller from any claims, damages, or expenses arising from the Buyer`s use of the vehicle.
8. Governing Law
This agreement shall be governed by the laws of Nigeria.
9. Entire Agreement
This agreement constitutes the entire agreement between the parties and supersedes all previous negotiations, representations, or agreements.
10. Signatures
Both parties have read and understand the terms of this agreement and agree to be bound by it.
[Insert signature lines for both the Buyer and Seller]
Conclusion
A car sale agreement is an important legal document that protects both the buyer and seller in a vehicle transaction. While this sample agreement can serve as a useful template, it`s important to consult with a lawyer to ensure that it complies with Nigerian laws and regulations. By taking the time to set out the terms of the sale in writing, both parties can have peace of mind knowing that their interests are protected.
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