VEHICLE SALE RECEIPT AND ACKNOWLEDGEMENT OF PAYMENT
(Made pursuant to the Sale of Goods provisions applicable in Nigeria)
________
________
Telephone: ________
Means of Identification (NIN/Driver's Licence/Int'l Passport No.): ________
Date: ________
Receipt No.: ________
To: ________
________
Telephone: ________
Means of Identification (NIN/Driver's Licence/Int'l Passport No.): ________
§1. PARTIES
This Vehicle Sale Receipt ("this Receipt") is issued by ________ (the "Seller") in favour of ________ (the "Buyer"), the Seller and the Buyer being together referred to as the "Parties" and each as a "Party".
§2. ACKNOWLEDGEMENT OF PAYMENT
2.1. The Seller hereby irrevocably acknowledges the receipt from the Buyer of the sum of ₦________ (________) being the full and final purchase price for the vehicle described in §3 below (the "Vehicle").
2.2. The said sum was paid by the Buyer by way of ________ on ________, and the Seller confirms that no further sum remains outstanding in respect of the sale of the Vehicle.
2.3. This Receipt constitutes conclusive evidence of payment of the full purchase price and of the discharge of the Buyer's payment obligations in respect of the Vehicle.
§3. DESCRIPTION OF THE VEHICLE
3.1. Vehicle type: ________
3.2. Make: ________
3.3. Model: ________
3.4. Year of manufacture: ________
3.5. Colour: ________
3.6. Chassis/Vehicle Identification Number (VIN): ________
3.7. Engine Number: ________
3.8. Registration/Plate Number: ________
3.9. Odometer/Mileage Reading: ________
§4. PURCHASE PRICE
4.1. The agreed purchase price for the Vehicle is ₦________ (________).
4.2. The purchase price is inclusive of all sums payable in respect of the sale, save for such government taxes, levies, and registration fees as are referred to in §7 below.
§5. TRANSFER OF TITLE AND OWNERSHIP
5.1. The Seller warrants that it is the sole and lawful owner of the Vehicle and is fully entitled to sell and transfer the Vehicle to the Buyer.
5.2. The Seller warrants that the Vehicle is free from all liens, charges, hire-purchase agreements, mortgages, debts, and encumbrances whatsoever, and that it is not the subject of any pending or threatened litigation, seizure, or adverse claim.
5.3. Upon receipt of the full purchase price as acknowledged in §2, all right, title, property, and interest in the Vehicle shall pass absolutely from the Seller to the Buyer with effect from the date of this Receipt, and the Buyer shall be entitled to quiet possession and enjoyment of the Vehicle.
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§6. CONDITION AND DISCLAIMER OF WARRANTIES
6.1. The Buyer acknowledges that it was given full opportunity to inspect and test the Vehicle and has accepted the Vehicle in its present state and condition.
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6.3. Nothing in this Receipt shall operate to exclude or limit any liability that cannot lawfully be excluded or limited under the applicable laws of the Federal Republic of Nigeria.
§7. RISK, TAXES, AND LIABILITIES
7.1. Risk in the Vehicle shall pass to the Buyer with effect from the date of this Receipt.
7.2. From the date of this Receipt, the Buyer assumes full responsibility for the Vehicle, including all risks, costs, insurance, registration, taxes, levies, and liabilities arising from the ownership, possession, or use of the Vehicle.
§8. DELIVERY
8.1. The Seller has delivered, and the Buyer has taken physical possession of, the Vehicle together with the following documents: ________.
§9. ENTIRE AGREEMENT
9.1. This Receipt, together with any duly executed Bill of Sale relating to the Vehicle, constitutes the entire agreement between the Parties in respect of the sale and supersedes all prior negotiations, representations, and understandings, whether oral or written.
§10. GOVERNING LAW AND DISPUTE RESOLUTION
10.1. This Receipt and the transaction recorded herein shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
10.2. Any dispute arising out of or in connection with this Receipt shall, in the first instance, be settled amicably by the Parties; failing which, such dispute shall be submitted to the exclusive jurisdiction of the competent courts sitting in ________.
§11. CONFIRMATION
11.1. This Receipt serves as proof of payment of the full purchase price and of the transfer of ownership of the Vehicle from the Seller to the Buyer.
IN WITNESS WHEREOF the Parties have executed this Receipt on the date first written above.
SELLER:
Name: ________
Signature: ___________________________________
Date: ________
BUYER:
Name: ________
Signature: ___________________________________
Date: ________
WITNESS (Seller's side):
Name: ________
Address: ________
Signature: ___________________________________
WITNESS (Buyer's side):
Name: ________
Address: ________
Signature: ___________________________________