nutinauniversalshell said:
seems like you have to put a time limit on stuff or else some people take forever.
just clearly give him a time line in the call/message and letter on getting back with you or forfeiting his money this far.
"Nut" raises a good point. In any contract, there must be a meeting of the minds on the item and price, and a time by which the terms of the contract must be executed by both parties.
That said, remember that
verbal contracts are not worth the paper they aren't written on.
The following is a contract that I've used for both selling and buying NFA items:
Disclaimer: The following agreement is provided as an example and meant to be a starting point for similar documents used by others in similar transactions. The purpose for an agreement of sale is to get everything on paper as to actions to be performed by each party and when, with some understanding as to a final date of closure for the deal. NFA transactions take time, and during that time things can be forgotten. An agreement of sale keeps the parties' actions and responsibilities in the open.
That said, by posting this example sale agreement document in no way do I offer any kind of legal advice whatsoever. I do not warrant that this agreement is legal and binding in any particular state or locality. Individuals are cautioned to speak to their attorneys.
Agreement of Sale
This Agreement covers the sale of one (1) Sterling Mk4/L2A3 type submachine gun; S/N XXXXXXX, manufactured by DLO, Stanton, CT; with two as-new 34 rd magazines of Sterling manufacture,
Seller:
John Doe
789 Any Street
Hometown, TX 77777
Buyer:
Noah Zark
123 Buckscaguda St
Dagusgahonda, PA 15853
The subject Sterling Mk4/L2A3 s/n XXXXXXX is complete and functional as described and depicted in conversations and e-mails between Seller and Buyer dated 2-7 November 2005 and photographs conveyed therein from Seller to Buyer, with noted finish defects outlined in the photos by the Seller as acknowledged by the Buyer as being acceptable.
Buyer acknowledges that Seller has provided a photocopy of the approved Form 4 Application and/or requisite Change of Address forms originally transfering the subject Sterling Mk4/L2A3 to the Seller as proof of Seller's legal title to the subject firearm, and thus right to sell the subject firearm.
Seller affirms and Buyer acknowledges that the subject firearm is complete and functional as of 9 Nov 2005, but that it is being sold “as-is” with respect to physical condition. “Complete and functional” is defined as the ability to fire three (3) magazines containing 33 or 34 rounds of Winchester Value Pack 115 grain 9mm commercial ammunition for a total of one hundred (100) rounds without failure, upon receipt by the Buyer’s in-state licensed transfer dealer. Should the weapon fail to perform as described, the Seller agrees to pay for any necessary repairs by and transportation to and from a qualified gunsmith acceptable to both parties, cost of repairs and transport not to exceed $750.
TERMS:
Purchase price is $XXXX. Buyer to make two payments of $YYYY each, in certified funds; either bank check or USPS Money Orders being acceptable. The first payment shall accompany this agreement, and be mailed to the seller on or about 9 November, 2005. The second payment shall be mailed on or prior to 15 December 2005, and upon receipt of the second installment by the Seller the purchase price shall be considered paid in full, and so acknowledged by the Seller to the Buyer in writing via postal mail or E-mail at time of receipt.
Seller shall initiate transfer in a timely manner (defined as within one week of receipt of full payment) the complete Sterling Mk4/L2A3 s/n XXXXXXX and two (2) magazines to the Buyer’s in-state licensed transfer dealer:
John A (Jack) Mehoff
456 Center St
Quehanna, PA 16739
FFL# XXXXXXXXXXXXXXXXXXX
Transfer application document(s) are to be prepared by Jack Mehoff and supplied to the Seller for signature. Seller shall communicate the certified mail tracking number of the transfer paperwork to the Buyer within 24 hrs of mailing the transfer paperwork. This transfer from an individual to a licensed dealer typically takes
XXX weeks but in any event is expected to be completed by
Day, Month, Year as evidenced by the signed and dated approval of the transfer application by the ATF NFA Firearms Branch.
Buyer to provide the Seller with a prepaid shipping label to convey the subject firearm to the licensed transfer dealer Jack Mehoff upon ATF NFA Branch transfer approval. At the time of actual receipt by the in-state transfer dealer Jack Mehoff and verification of functionality of the subject firearm by Mr Mehoff as defined above, the sale shall be considered finalized between the Seller and the Buyer.
Non-Performance: This Agreement of Sale shall be considering binding upon both parties and covered by the laws of the Commonwealth of Pennsylvania. Should the Seller fail to perform for any reason, including "change of mind," the Seller shall immediately refund the full purchase price to the Buyer in certified funds. The Seller shall also refund any and all expenses incurred by the Buyer, and shall pay to the Buyer a $500 non-performance penalty. Likewise, should the Buyer fail to perform for any reason, including "change of mind," the Buyer shall be entitled to refund of all funds paid to date, except a $500 non-performance penalty shall be withheld by the Seller. Disputes arising from non-performance requiring judicial action shall be decided in the applicable court having jurisdiction over Elk County, PA.
Delay in transfer created in the usual and customary processing of transfer paperwork by NFA Branch, 244 Needy Rd, Martinsburg, WV shall
not constitute failure to perform on the part of any party to this document.
Signed:
_____________________________ ________________________
John Doe, Seller Noah Zark, Buyer
Date: ___________ Date: ____________
Signed and executed copies to be retained by both parties.
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You're welcome.
Noah
