Easy to Understand Outline of Purchase Agreement

Purchase Agreement Background

A purchase agreement is a contract for the purchase and sale of a given item or piece of property. Thus, a purchase agreement might also be known as a buy sell agreement. A purchase agreement records the exact exchange of property, including the price involved in the exchange of property and the description of the property exchanged as a record for any kind of legal matters that might need such a record.

Lease Purchase Agreement

A lease purchase agreement is a type of purchase agreement which will generally involve a lease being included in the overall purchase agreement. This means that the buyer in a lease purchase agreement will not immediately buy the entirety of the property in question, but will instead lease it for a time and make payments until eventually he or she will have made the appropriate overall payments or will pay the rest in a lump sum. A lease purchase agreement is often used as a real estate purchase agreement.

Repurchase Agreement

A repurchase agreement is an agreement which functions as a kind of loan. One individual offers to sell a security to another party in exchange for a certain amount of money from the buyer. The seller, however, will also agree to eventually buy the security back at a later point for a greater amount of money. Thus, the repurchase agreement results in profit for the initial buyer of the security and a temporary loan for the seller.

Power Purchase Agreement

A power purchase agreement is a purchase agreement in which the buyer is known as the host and is purchasing electricity and power from a power source, known as the seller or provider. A power purchase agreement will often be a means for a party to ensure that it will be provided with the power it needs from a source it trusts.

Vehicle Purchase Agreement

A vehicle purchase agreement is documentation involved in the sale of a vehicle. A vehicle purchase agreement might also be known as a vehicle contract, and it would normally include such information as important physical characteristics of the car being sold, the price of the sale, and the date of the sale.