Which contract to use when purchasing Food trailer from 2nd hand dealer
Please could you advise what legal contract I can draw up between my husband and the owner of a 2nd hand dealership. The two parties have agreed that my husband will purchase a food caravan from the 2nd hand dealership and once it is up and operating a profit then the arrangement is to pay the caravan off in installments of R500.00 per week. Now the ownership papers are still in the owners name, however there are court ordered papers confirming the purchase of the caravan by the 2nd hand dealer. I am wanting to put in place some sort of contract between ourself and the dealer so that we are not held responsible should the owner decide otherwise and that we have not “Stolen” the caravan,
Please could you advise?
Hello Kellys Venter,
There is no hard and fast rule on a format or how to draft the kind of contract you seek. What would be most important is that your intention and that of the seller partaining to the trailer and its description, the amount offered and accepted in respect and the payment plan agreed to. How you draft it is irrelevant as far the key terms are captured. Have it witnessed and signed. Importantly, if the trailer is still registered in the name of the previous owner, my suggestion would be that you insist that the dealer have it transferred unto his or her name foremostly before you can close the deal. The reason is simple: your fear that a third party may lay claim on the trailer in the future would be diminished.