Assignment by Vendor of Goods with Recourse

for Your State

This Assignment by Vendor of Goods with Recourse is between a seller of goods who has a contract with a buyer and an assignee who will take over that contract. This assignment contains provisions regarding the assignee's recourse against the assignor. This form is for use in all states.

For Immediate Download

$19.95 Add to Cart
Free eSignature included
with every order
Please select a state

File types included

  • Microsoft Word
  • Adobe PDF
  • WordPerfect
  • Rich Text Format

Compatible with

  • Windows
  • Mac OS X
  • Linux

For Immediate Download

$19.95 Add to Cart
Free eSignature included
with every order
Please select a state

Attorney prepared

Our forms are kept up-to-date and accurate by our lawyers

Unlike other sites, every document on FindLegalForms.com is prepared by an attorney, so you can be sure that you are getting a form that is accurate and valid in your state.

Valid in your state

Our forms are guaranteed
to be valid in your state

Our team works tirelessly to keep our products current. As the laws change in your state, so do our forms.

Over 3,500,000
satisfied customers

In over 10 years of creating and selling legal forms, our focus has never changed: providing our customers high quality legal products, low prices and an experience that takes some confusion out of the law.

Free eSignature

Sign your form online, free with any form purchase

We now provide a free Electronic Signature Service to all of our visitors. There are no hidden charges or subscription fees, it's just plain free.

60-Days Money Back

Try our forms with no risk

If you are unhappy with your form purchase for any reason at all, contact us within 60 days and we will refund 100% of your money back.
This Assignment by Vendor of Goods with Recourse is between a seller of goods (the “Assignor”) and another party to whom the contract will be assigned (the “Assignee”). This agreement sets out the specific arrangement between the parties including a description of the contract being assigned and assignor’s warranties. It is important that this type of business arrangement be set out in writing. A written Assignment by Vendor of Goods with Recourse will prove valuable in the event of disagreements or misunderstandings between the parties.

This Assignment by Vendor of Goods with Recourse includes the following provisions:
  • Parties: Sets forth the name of the assignee, the date of the contract and the name of the buyer of the goods;
  • Covenants and Warranties: Sets out the assignor’s warranties including the fact that the contract is valid and down payment has been made, the assignor has title to the goods and assignor will repurchase the contract if any warranties are not met;
  • Signatures: This assignment must be signed and dated by the assignor.

Protect your rights and your property by using our attorney-prepared forms.

This attorney-prepared packet contains:
  1. General Instructions
  2. Assignment by Vendor of Goods with Recourse
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Assignment by Vendor of Goods
with Recourse

 

TO:   [Name of Assignee]
1.   Assignment
For value received the undersigned (the "Assignor"), hereby assigns to [Name of Assignee] (the "Assignee") the installment sale contract dated [Date (ie. July 31, 2002)] (the "Contract") between the Assignor as seller and [Name of Buyer of Goods] (the "Buyer") as buyer, the security interest created thereby and the goods described therein, with full recourse and with full power in the Assignee in its name, or in the name of the Assignor, to take all such action as the Assignor might have taken but for this assignment.
2.   Warranties and Covenants
(a)   The Assignor hereby warrants that:
(i)   the Contract, including the extension of credit thereunder to the Buyer, complies with all laws, regulations and orders, federal, state or otherwise;
(ii)   the Contract is genuine and the cash down payment, if any, paid by the buyer as set forth in the Contract was, in fact, paid in cash and not its equivalent, unless otherwise specified therein, and no part thereof was loaned directly or indirectly by the Assignor to the buyer;
(iii)   the buyer, at the time of the execution and delivery of the Contract, was [Age of Majority (ie. 18)] years of age or older (or was duly incorporated under the laws of the State of [State (ie. California)]) and had capacity to contract;
(iv)   at the time of the execution and delivery of the Contract, the Assignor had good title to the goods, free and clear of all security interests, liens and encumbrances, and now has a perfected purchase money security interest in the goods, which interest now is and will continue to be prior to the claims of all other persons to the goods; and
(v)   if the buyer defaults under the terms of the Contract, the Assignor will take all necessary steps to preserve rights against the buyer and any other prior parties.
(b)   If any of the foregoing warranties should be untrue, the Assignor agrees to repurchase the Contract from the Assignee forthwith on demand, and will pay not less than the unpaid time balance plus any and all costs and expenses paid or incurred by the Assignee with respect thereto. Such right of the Assignee shall be cumulative and not exclusive, and shall not affect any other right or remedy which it may have hereunder. The Assignee is hereby authorized to correct patent errors in the Contract and in all other papers executed, endorsed or signed in connection therewith.
3.   Waivers
(a)   The Assignor waives all demands and notice of default and agrees that, without notice to it, the Assignee may extend, renew or modify the terms of the Contract, and extend time to, or compound, waive or release any rights against the buyer or any other obligor.
(b)   In the event of breach of any warranty herein or failure to perform any covenant hereof, the Assignee hereby empowers any attorney of any court of record within the United States of America or elsewhere to appear for it and, with or without one or more declarations filed, to confess judgment as often as necessary against it in favour of the Assignee in any such court, for the total time balance plus any and all costs and expenses paid or incurred by the Assignee with respect thereto, together with costs and solicitor's fees for collection.
(c)   The Assignor further waives any right to stay of execution and extension upon any levy on real estate pursuant to any judgment so entered and also hereby expressly waives the exemption of all property from levy on real estate pursuant to any judgment so entered and also hereby expressly waives the exemption of all property from levy and sale on any execution thereon.
4.   Successor Interests
This assignment shall be legally binding on the Assignor, its respective heirs, successors and assigns, and shall enure to the benefit of the Assignee, its successors and assigns.
Dated this _____ day of ____________________, 20_____.
 
 
 
 
 
 
[NAME OF ASSIGNOR]
 
Number of Pages4
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28820
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Assignment by Vendor of Goods
with Recourse

 

TO:   [Name of Assignee]
1.   Assignment
For value received the undersigned (the "Assignor"), hereby assigns to [Name of Assignee] (the "Assignee") the installment sale contract dated [Date (ie. July 31, 2002)] (the "Contract") between the Assignor as seller and [Name of Buyer of Goods] (the "Buyer") as buyer, the security interest created thereby and the goods described therein, with full recourse and with full power in the Assignee in its name, or in the name of the Assignor, to take all such action as the Assignor might have taken but for this assignment.
2.   Warranties and Covenants
(a)   The Assignor hereby warrants that:
(i)   the Contract, including the extension of credit thereunder to the Buyer, complies with all laws, regulations and orders, federal, state or otherwise;
(ii)   the Contract is genuine and the cash down payment, if any, paid by the buyer as set forth in the Contract was, in fact, paid in cash and not its equivalent, unless otherwise specified therein, and no part thereof was loaned directly or indirectly by the Assignor to the buyer;
(iii)   the buyer, at the time of the execution and delivery of the Contract, was [Age of Majority (ie. 18)] years of age or older (or was duly incorporated under the laws of the State of [State (ie. California)]) and had capacity to contract;
(iv)   at the time of the execution and delivery of the Contract, the Assignor had good title to the goods, free and clear of all security interests, liens and encumbrances, and now has a perfected purchase money security interest in the goods, which interest now is and will continue to be prior to the claims of all other persons to the goods; and
(v)   if the buyer defaults under the terms of the Contract, the Assignor will take all necessary steps to preserve rights against the buyer and any other prior parties.
(b)   If any of the foregoing warranties should be untrue, the Assignor agrees to repurchase the Contract from the Assignee forthwith on demand, and will pay not less than the unpaid time balance plus any and all costs and expenses paid or incurred by the Assignee with respect thereto. Such right of the Assignee shall be cumulative and not exclusive, and shall not affect any other right or remedy which it may have hereunder. The Assignee is hereby authorized to correct patent errors in the Contract and in all other papers executed, endorsed or signed in connection therewith.
3.   Waivers
(a)   The Assignor waives all demands and notice of default and agrees that, without notice to it, the Assignee may extend, renew or modify the terms of the Contract, and extend time to, or compound, waive or release any rights against the buyer or any other obligor.
(b)   In the event of breach of any warranty herein or failure to perform any covenant hereof, the Assignee hereby empowers any attorney of any court of record within the United States of America or elsewhere to appear for it and, with or without one or more declarations filed, to confess judgment as often as necessary against it in favour of the Assignee in any such court, for the total time balance plus any and all costs and expenses paid or incurred by the Assignee with respect thereto, together with costs and solicitor's fees for collection.
(c)   The Assignor further waives any right to stay of execution and extension upon any levy on real estate pursuant to any judgment so entered and also hereby expressly waives the exemption of all property from levy on real estate pursuant to any judgment so entered and also hereby expressly waives the exemption of all property from levy and sale on any execution thereon.
4.   Successor Interests
This assignment shall be legally binding on the Assignor, its respective heirs, successors and assigns, and shall enure to the benefit of the Assignee, its successors and assigns.
Dated this _____ day of ____________________, 20_____.
 
 
 
 
 
 
[NAME OF ASSIGNOR]
 

Looking for something else?