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How do i draw up a legal contract or agreement?
Question by : How do i draw up a legal contract or agreement?
I’m selling my car to someone in payments. They’re doing a down payment then paying the designated amount in payments for X amount of months. I want a contract ibcase they don’t pay off as promised. How do I do this and what do I include?
Best answer:
Answer by Jason
You need to prepare a Contract to Sell defining the terms and conditions prior to the execution of the Deed of Absolute Sale. Make sure to include the terms of payment and the period within which to make the full payment. Also include a penalty clause indicating that any amounts paid shall be forfeited in case they don’t pay as agreed. This would be sufficient to protect your self along the way.
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