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Vehicle Sales Agreement
Vehicle Sales Agreement
THIS VEHICLE SALES AGREEMENT is made this _15th_ day of _____MAY____, 2019_, by
and among ____ACE ROBIN A. GARCIA_____ (hereinafter known as "Seller") and ____JAN
MICHAEL ALIPIO_______ (hereinafter known as "Buyer"). Buyer and Seller shall collectively
be known herein as "the Parties".
BACKGROUND
WHEREAS, Seller desires to sell the vehicle described below, known herein as the "Acquired
Vehicle", under the terms and conditions set forth below;
WHEREAS, Buyer desires to purchase the Acquired Vehicle offered for sale by Seller under the
terms and conditions set forth below; and, therefore,
TERMS AND CONDITIONS
IN CONSIDERATION of the mutual promises and other valuable consideration exchanged by
the Parties as set forth herein, the Parties, intending to be legally bound, hereby agree as follows:
A. Description of Acquired Vehicle.
1. Make: Toyota
2. Model: Vios Robin 1.3 E
3. Body Type: Sedan
4. Body Color: Silver
5. Year: 2004
6. Miles: 190km
7. Vehicle Plate Number: XNB 852
B.Consideration.
1. Purchase Price. The total purchase price to be paid by Buyer to Seller for the
Acquired Vehicle is __NINETY THOUSAND PESOS__ only (Php90,000)
(hereinafter "Purchase Price") consisting of the following components:
i. Downpayment: Php___50,000___ (Paid by buyer before execution of
this agreement.)
ii. Payment upon Validation of Vehicle’s OR/CR and Certification: Php
20,000
iii. R e m a i n i n g B a l a n c e : Php 20,000
The "downpayment" and other payment dues are to be made by Buyer to Seller
in cash, or through another instrument acceptable to Seller.
2. Release of Remaining Balance. The remaining balance stated above in the value of
Php 20,000 shall be paid by Buyer to the Seller ONLY UPON confirmation that
Vehicle’s Original OR/CR WILL BE RELEASED by Toyota Financial Services to
either Buyer or Seller, or any authorized representative of the two, after the
appearance of Vehicle’s CoMaker at Toyota Financial Services scheduled on
Thursday, May 16, 2019. Any changes in schedule shall be subjected to both Buyer
and Seller’s agreement.
C. Conveyance of Title.
1. Conveyance of Title. Seller agrees and covenants to execute all documents presented by Buyer
which are necessary to finalize transfer of title and registration upon the Acquired Vehicle to
Buyer.
D. Representations, Warranties, and Disclosures
1. Warranties.
This vehicle is sold "AS IS", and Seller does not in any way, expressly or
impliedly, give any warranties to Buyer. Seller expressly disclaims any
implied warranties of merchantability or of fitness for a particular purpose.
2. Odometer Declaration. Seller hereby states that the odometer in the Acquired
Vehicle now reads _190,000 KM_miles and to the best of Seller's knowledge it
reflects the actual mileage of the vehicle described herein.
3. Buyer Representation. The individual signing this agreement on behalf of
Buyer hereby represents to Seller that he or she has the power and authority to do
so on behalf of Buyer.
E. Buyer's Responsibility Insurance and Tags. Buyer acknowledges that unless
prohibited by applicable law, any insurance coverage, license, tags, plates or registration
maintained by Seller on the Acquired Vehicle shall be canceled upon delivery of the
Acquired Vehicle to, and the acceptance of, by Buyer.
F. Continuation of Representations and Warranties. All representations and warranties
contained in this Agreement (if any) shall continue in full force and effect after execution
of this agreement. If either party later learns that a warranty or representation that it made
is untrue, it is under a duty to promptly disclose this information to the other party in
writing. No representation or warranty contained herein shall be deemed to have been
waived or impaired by any investigation made by or knowledge of the other party to this
Agreement.
G. Indemnification of Attorneys Fees and outofpocket costs. Should any party
materially breach this agreement (including representations and warranties made to the
other side), the nonbreaching party shall be indemnified by the breaching party for its
reasonable attorneys fees and outofpocket costs which in any way relate to, or were
precipitated by, the breach of this contract (including the breach of representations or
warranties). This provision shall not limit in any way the remedies either party may have
otherwise possessed in law or equity relative to a breach of this contract. The term
"outofpocket costs", as used in this contract, shall not include lost profits.
H. Integration. This Agreement, including the attachments mentioned in the body as
incorporated by reference, sets forth the entire agreement between the Parties with regard
to the subject matter hereof. All prior agreements, representations and warranties, express
or implied, oral or written, with respect to the subject matter hereof, are hereby
superseded by this agreement. This is an integrated agreement.
I. Severability. In the event any provision of this Agreement is deemed to be void, invalid,
or unenforceable, that provision shall be severed from the remainder of this Agreement so
as not to cause the invalidity or unenforceability of the remainder of this Agreement. All
remaining provisions of this Agreement shall then continue in full force and effect. If any
provision shall be deemed invalid due to its scope or breadth, such provision shall be
deemed valid to the extent of the scope and breadth permitted by law.
J. Modification. Except as otherwise provided in this document, this agreement may be
modified, superseded, or voided only upon the written and signed agreement of the
Parties. Further, the physical destruction or loss of this document shall not be construed
as a modification or termination of the agreement contained herein.
K. Acknowledgements. Each party acknowledges that he or she has had an adequate
opportunity to read and study this Agreement, to consider it, to consult with attorneys if
he or she has so desired.
L. R e p u b l i c Law. This Agreement shall be interpreted under, and governed by, the laws of the
Republic of the Philippines.
IN WITNESS WHEREOF and acknowledging acceptance and agreement of the foregoing, Seller
and Buyer affix their signatures hereto.
SELLER BUYER
Dated: __May 15, 2019 Dated: _May 15, 2019