Seller's statements Clause Samples
The "Seller's statements" clause defines the representations and disclosures that the seller must make regarding the property or goods being sold. Typically, this clause requires the seller to provide accurate information about the condition, ownership, and any known defects or encumbrances affecting the item. For example, in a real estate transaction, the seller may need to disclose issues like water damage or outstanding liens. The core function of this clause is to ensure transparency and protect the buyer from undisclosed problems, thereby reducing the risk of disputes after the sale.
Seller's statements. (a) The Seller states that, except as disclosed in this contract, each of the following statements is or will be accurate:
(i) it has the capacity and power to enter into this contract;
(ii) if, on Settlement, there is a mortgage over the Lot, a release of the mortgage in respect of the Lot will be provided at Settlement;
(iii) if the Transfer Documents given to the Buyer on Settlement are executed by an attorney of the Seller, then the relevant power of attorney will be registered at the Land Registry by Settlement; and
(iv) at Settlement:
(A) the Seller will have no knowledge or notice of any special contribution to be levied on the owner of the Lot;
(B) no order will have been made for the termination of the Scheme or the dissolution of the Body Corporate;
(C) the Body Corporate will not have mortgaged or charged any of its assets to secure the payment or repayment of money owing or borrowed by it;
(D) there will be no unsatisfied judgment against the Body Corporate; and
(E) there will be no unsatisfied judgment, order or writ affecting the Lot.
(b) If a statement in clause 4.4(a) is not accurate and the Buyer is materially prejudiced by the inaccuracy (the onus of proof being on the Buyer), the Buyer may terminate this contract by written notice to the Seller and in that case:
(i) the Deposit must be refunded to the Buyer together with any interest earned on the investment of the Deposit; and
(ii) neither party will have any Claim against the other party.
Seller's statements. (a) Seller acknowledges receipt from Purchaser of a copy of the Phase I Environmental Site Assessment, McLe▇▇ ▇▇▇plex, dated July, 1996, by Howa▇▇ ▇. ▇▇▇▇▇ ▇▇▇pany (the "Phase I Report"). Except for the items raised in the Phase I Report, Seller states that to the best of its knowledge:
A. Except any which might result from actions being taken by Purchaser, there are not any action in condemnation, eminent domain or public taking proceedings against the Land.
B. Except any which might result from actions being taken by Purchaser, there is not any ordinance or hearing now before any local governmental body which authorizes any public improvements or special tax levies, the cost of which may be assessed against the Land. C. Seller has not received any notices, orders, suits, judgment or other proceedings relating to fire, building, zoning, air pollution or health violations that have not been corrected. Seller shall notify Purchaser of any past notices, orders, suits, judgments or other proceedings relating to fire, building, zoning, air pollution or health violations as they relate to the Land.
Seller's statements. 1. The Seller declares that the goods do not contain and are not produced from genetically modified organisms.
2. The Seller declares that there are no preparatory, court, administrative or enforcement proceedings pending against him, the result of which or the mere fact of occurrence could limit the proper performance of the contract.
3. The Seller declares that the conclusion of the contract will not prevent or hinder the performance of the Seller's obligations towards third parties.
4. The Seller declares that the delivered goods are free from defects, healthy, dry, with a specific smell, a specific color, sown from certified seeds without additives, free from live pests, free from fungi, free from mold. compliant with EU and national law regarding the degree of radioactivity, pollution and chemical residues of plant protection products, free from the presence of propionic acid, formic acid, other fungicides and preservatives.
5. The Seller declares that the goods meet the following requirements specified in:
a) Regulation (EC) No 1107/2009 of the European Parliament and of the Council of 21 October 2009 concerning the placing of plant protection products on the market and repealing Council Directive 79/117 / EEC 191/414 / EEC of 21 October 2009 ( Journal of Laws UE.L No. 309, p. 1), b) Regulation (EC) No 396/2005 of the European Parliament and of the Council of 23 February 2005 on maximum residue levels in food | feed of plant and animal origin and on their surface, amending Council Directive 91/414 / EEC of February 23, 2005 (Journal of Laws UE L No. 70, p. 1),
c) Directive 2002/32 / EC of the European Parliament and of the Council of 7 May 2002 on undesirable substances in animal feed of 7 May 2002 (Journal of Laws of the European Union No. 140, p. 10), d) Regulation (EC) No. 183/2005 of the European Parliament and of the Council of 12 January 2005 laying down requirements for feed hygiene of 12 January 2005 (Journal of Laws UE.L No. 35, p. 1)
6. The Buyer may request the Seller to provide additional statements as to its compliance with legal requirements. The Seller is obliged to submit such a declaration within 3 days from the date of the Buyer's request.
7. The Seller is liable to the Buyer for making the above statements incorrectly.
Seller's statements. Seller states to Purchaser as follows:
Seller's statements. Borrower has furnished to Lender the audited financial statements of Sellers certified without qualification by independent certified public accountants as of December 31, 1997. To the best of Borrower's knowledge, after due inquiry, such statements are correct and complete in all material respects, fairly present in all material respects the financial condition and assets of the Sellers and have been prepared in accordance with GAAP.