Drafting and legal analysis of sales agreements

The greater half of the agreements that are concluded by people are sales agreements. In everyday life everyone makes daily sales transactions without even thinking of it, because most of them are done orally or by taking appropriate actions that show the will to enter into a particular agreement.

The Law Firm “First Legal” has more than 11 years of experience in drafting agreements of varying complexity, including sales agreements. The professionals of our company will not only be able to conclude a sales agreements in full compliance with the requirements of current legislation of Ukraine, but also provide the client with recommendations on tax structuring issues or other issues that may arise for the client during drafting a specific sales agreement.

In general, the sales agreements can be attributed to two blocks: sales agreements of movable property, which include most of the sale arrangements, and sales agreements of immovable property (apartments, houses, commercial real estate, land, etc.). We’d like to draw your attention to the fact that in accordance with current legislation sales agreements of immovable property have be concluded in writing and be notarised, and the acquired ownership right as a corporeal right have be registered in the State Register of Property Rights to Immovable Property. Only after all the above actions are completed, you can consider yourself a sole owner of the immovable property you have purchased.  

Particular attention should be paid to the drafting and/or legal analysis of sales agreements and their preparation for signing, as such an agreement has to reflect all the essential conditions of the agreement under applicable law (a subject, a price and an agreement term), as well as those conditions, which have to be reflected at the request of either party or are necessary for agreements of this kind. For example, it is important to stipulate the following in sales agreements:

– All the characteristics of the subject (the object) of purchase (name, type, size, completeness, material from which the object is made, etc.);

– The moment of transfer of ownership rights (from the moment of the transfer or the payment),

– Duration of product quality guarantee, procedure, time and place of transfer (delivery) of goods,

– Documents confirming the quality of the goods (quality certificates, declarations of conformity, etc.),

– Liabilities of the parties.

In addition to drafting or analysing mixed contracts, we offer authorisation or “verification” of the counterparty, which the client plans to build a partnership with, to our clients (if desired). This service is an analysis of the legal history of the counterparty as a business entity, which is conducted through public state registers (including the litigation history, the history of open enforcement proceedings etc.), as well as an analysis of its constituent documents and, if necessary, additional documents of the counterparty, which is a guarantee of reliability and integrity of the future partner in the years ahead.