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CONTRACT OF AGREEMENT FOR SALE OF A VEHICLE

This agreement is made on the ____ day of ______________ 20____


PARTIES
1. Toyota Dealers Ltd of 7 Johnson Avenue, Sydney, Aust., 2000
(the seller)

2. Ms Tenny Tran of 2 Grig St, Maroubra, Aust., 2035
(the buyer)

This is a binding agreement between the parties for the sale of a motor vehicle


RECITALS
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A. The seller is a supplier of goods described in Item 1 of the Schedule (the goods)
B. The buyer wants to buy the goods from the seller
C. The seller agrees to sell and the buyer agrees to buy goods on the terms and conditions set
out in this agreement


THE PARTIES AGREE

1. Applicable Law
1.1. The goods will be sold in accordance with the provisions of the Transport Operations (Road
Use Management) Act 1995 (NSW) and the Interstate Road Transport Act 1985
(Commonwealth)
1.2. The goods will display a safety certificate, as issued on behalf of the state of New South
Wales by New South Wales Transport, in accordance with the provisions of the Transport
Operations (Road Use Management Vehicle Standards and Safety) Regulation Act 1999
(NSW)
1.3. The transaction between the buyer and the seller will take place in accordance with other
relevant laws applicable in the state of New South Wales and the Commonwealth of Australia

2. Condition of Goods
2.1. The seller will purchase and install a new catalytic converter for the goods, and this will be
appropriate in standard to satisfy the requirements of section 1.2 of this agreement
2.2. The purchase and installation of the catalytic converter will take place prior to the calculation
of the total price for the goods under the terms of section 3 of this agreement, and hence prior
to this agreement being signed

3. Price
3.1. The total price payable by the buyer will be the price calculated in accordance with the
conditions of section 3 of this agreement, the exact amount being recorded in Item 2 of the
Schedule at the time at which this agreement is signed

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Peter Young et al (eds), Australian Encyclopaedia of Forms and Precedents (Feb 2008) 15.1
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3.2. The highest stated national average price for private sale as displayed on the website
www.redbookasiapacific.com/au/ for the goods will be taken
3.3. The price obtained under section 3.2 will be for goods of the same make, model and year as
the goods described in Item 1 of the Schedule
3.4. The price obtained under section 3.2 will be reduced by 10% and the result will be the base
price for the goods (base price)
3.5. The base price will be calculated at the time at which this agreement is signed, and the
resulting figure recorded in Item 2 of the Schedule
3.6. The price of the catalytic converter will be the price as listed on the receipt for the part, a copy
of which will be provided to the buyer by the seller prior to this agreement being signed
3.7. The price of the catalytic converter will be reduced by 50%, and the resulting figure recorded
in Item 2 of the Schedule at the time at which this agreement is signed (component price)
3.8. The total price of the goods will therefore be the sum of the component price as obtained
under section 3.7 and the base price as obtained under section 3.4 (total price)
3.9. The total price will be calculated, and the figure obtained under section 3.8 will be recorded
into Item 2 of the Schedule, at the time at which this agreement is signed

4. Payment
4.1. The buyer will pay the seller a deposit of 500.00 Australian dollars at the time at which this
agreement is signed
4.2. This deposit will be paid in the form of cash, bank cheque or money order, and all subsequent
payments made under this agreement by either party will be in the form of cash, bank cheque
or money order
4.3. The buyer waives the right to seek to recover the deposit under section 4.1 in any
circumstances, and understands that the deposit is hence not refundable to the buyer
4.4. An amount of 50% of the total price for the goods listed in Item 2 of the Schedule will be paid
to the buyer at the time at which the goods are delivered
4.5. This agreement is conditional upon the buyer obtaining within not more than 21 days from the
date of this agreement approval for a loan of an amount of 50% of the total price as listed in
item 2 of the Schedule. If the approval is not obtained, or is obtained but on terms not
regarded by the purchaser as satisfactory, either party may rescind this agreement by notice
in writing to the other
4.6. The balance of the total price will consist of the total price as in Item 2 of the Schedule minus
the amount stated in section 4.1 and minus 50% of the total price as stated in section 4.4 of
this agreement
4.7. The balance as stated in section 4.6 will accrue interest at rate of 6.00% per annum simple
calculated on a weekly basis from the date at which delivery of the goods takes place, and the
buyer is liable to pay this interest
4.8. The balance as stated in section 4.6 and any interest as accrued under section 4.7 will be
paid in full within a period not exceeding twelve months from the date at which delivery of the
goods takes place
4.9. The balance as stated in section 4.6 and any interest as accrued under section 4.7 will be
paid in four equal installments, each installment totaling 25% of the balance of the total price
plus any interest accrued under section 4.7 of this agreement
4.10. The first of the installments under section 4.9 will be paid within three months of the
date of this agreement, and each subsequent installment will be paid within three months from
the date the previous installment was paid

5. Delivery
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5.1. The goods will be delivered within 10 working days of the buyer obtaining finance in
accordance with section 4.5 of this agreement
5.2. The goods will be delivered to the address nominated by the buyer as listed in Item 3 of the
Schedule, at a time to be agreed upon by both parties that is within the timeframe of section
5.1 of this agreement
5.3. At the time at which the goods are delivered, the buyer will pay the seller in accordance with
the buyers relevant obligations under section 4 of this agreement
5.4. The seller will be wholly responsible for any costs involved in delivery of the goods to the
buyer

6. Goods and Services Tax
6.1. If the buyer becomes liable to pay goods and services tax (GST) in respect of any supply
under or in connection with this agreement, then the buyer will pay the owner an additional
amount on account of GST, such amount to be calculated by multiplying the total price in Item
2 of the Schedule for the part of the supply which is taxable supply for GST purposes by the
prevailing rate of GST (expressed as decimal) and notified in writing to the buyer by the seller
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6.2. The payment of any GST will be made in a period not exceeding twelve months of the date of
this agreement, and in accordance with the conditions of payment under section 4 of this
agreement

7. Events of Cancellation and Termination
7.1. This agreement may be terminated by the seller should the buyer fail to perform any obligation
contained or implied in the agreement and, where that obligation is capable of being
remedied, fail to remedy it within ten days of it not being performed
7.2. In the event of termination, the seller will retake possession of the goods as soon as
practicable after termination occurs, and is entitled to retain any money received to that point
under the terms of this agreement
7.3. If by reason of any fact, circumstance, matter or thing beyond the reasonable control of the
seller or the buyer, either is unable to perform in whole or in part any obligation under this
agreement, that party is relieved of that obligation under this agreement to the extent and for
the period that it is so unable to perform, and is not to be liable to the other party to this
agreement in respect of such inability
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8. Indemnity
8.1. The buyer indemnifies and will keep the seller indemnified for and against any action or claim
by any person in respect of damage or injury or any loss arising from any breakdown or defect
of the goods or in respect of anything incidental to the use, operation, maintenance or
possession of the goods by the seller or any other person
8.2. Each party indemnifies on a continuing basis from and against any liability, loss, expense or
demand for or arising from any false, misleading or deceptive representation or statement
made by either party to the other with respect of the goods

9. Dispute Resolution
9.1. If a dispute arises out of or otherwise relates to this agreement, or the breach, termination,
validity or subject matter thereof, or as to any related claim at law, in equity or pursuant to any

2
BMW Group Financial Services, Prestige Purchase Agreement (2008) [23]
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Peter Young et al (eds), Australian Encyclopaedia of Forms and Precedents (2008) 15.245
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statute, the parties agree to make all reasonable attempts at resolving the dispute through
means other than initiating formal legal proceedings, and
9.2. In the event that the dispute cannot be resolved after such reasonable attempts, the parties
will refer their dispute to Arbitration administered by the Australian Commercial Disputes
Centre (ACDC), who will conduct the Arbitration in accordance with the ACDC Rules for
Arbitration which are operating at the time the dispute is referred to the ACDS and which
terms are hereby deemed incorporated into this agreement
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9.3. This clause will survive termination of this agreement
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10. Headings
10.1. Headings of clauses in this agreement have been inserted for guidance only and do not
and will not be deemed to form part of this agreement







SCHEDULE
Item 1: Description of Goods (the goods)
Type of good: Motor vehicle
Year: 1982 Make: Volvo
Model: 245D VIN: WV1245DXCFSM1234
Colour: Olive Green Reg. No: JRU 534

Item 2: Price of the goods
Base price:
Component
Price:
$ _____________________
$ _____________________
Total price: $ _____________________

Item 3: Nominated delivery address
Location to which the goods will be delivered:
________________________________________
________________________________________
________________________________________



ACKNOWLEDGMENT AND EXECUTION
A. The buyer and seller acknowledge that they have read and understand the provisions of the
terms and conditions and Schedule in this agreement, and agree to be bound by them

Execution by the buyer Execution by the seller

4
Adapted from the Australian Commercial Disputes Centre Ltd, Sample Clauses (2007) ACDC
<http://www.acdcltd.com.au/4205,01,1-0-Sample+Clauses+downloads.php> at 15 March 2008
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Ibid
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______________________________ ______________________________
The buyer sign here The seller sign here

Signed by the buyer in the presence of: Signed by the seller in the presence of:


______________________________ ______________________________
Witness sign here Witness sign here

______________________________ ______________________________
Print name of witness here Print name of witness here