Sales Agreement - Equipment - Free Editor
EQUIPMENT PURCHASE AND SALE AGREEMENT
Governed by Illinois UCC Article 2 (810 ILCS 5/2-101 et seq.).
KEY PROVISIONS
- Late Payment: 5% per annum default (815 ILCS 205/4); parties may agree to different rate
- Risk of Loss: 810 ILCS 5/2-509
- Inspection/Rejection: 810 ILCS 5/2-513, 5/2-601, 5/2-602
- Warranties: 810 ILCS 5/2-314, 5/2-315, 5/2-316
- Remedies: 810 ILCS 5/2-706, 5/2-712, 5/2-718, 5/2-719
- Trade Secrets: Illinois Trade Secrets Act (765 ILCS 1065/1 et seq.)
- E-Signatures: Illinois Electronic Commerce Security Act (5 ILCS 175/1-101 et seq.)
- BIPA: Biometric Information Privacy Act (740 ILCS 14/1 et seq.)
- Forum: Cook County, Illinois
EXECUTION
☐ All placeholders completed ☐ Illinois-licensed counsel review
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