¶¶Òõ¶ÌÊÓÆµ

Outright Purchase Agreement Template for England and Wales

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Outright Purchase Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Outright Purchase Agreement

"I need an Outright Purchase Agreement governed by English law for acquiring a fleet of 10 electric delivery vehicles from a German manufacturer, with delivery scheduled for March 2025 and including specific warranty terms for battery life."

Document background
An Outright Purchase Agreement is commonly used when one party wishes to acquire full ownership of goods or assets from another party in a single transaction. This type of agreement is particularly useful for significant purchases where clear documentation of ownership transfer, warranties, and conditions is essential. Under English and Welsh law, these agreements are structured to comply with the Sale of Goods Act 1979 and related legislation, providing legal certainty for both parties. The agreement typically includes detailed specifications of the goods, purchase price, payment terms, delivery arrangements, and warranty provisions.
Suggested Sections

1. Parties: Identification and details of the contracting parties

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Sale and Purchase: Core terms of the sale including price and subject matter

5. Payment Terms: Payment amount, method, and timing

6. Delivery: Delivery terms, timing, and logistics

7. Title and Risk: Transfer of ownership and risk provisions

8. Warranties: Standard warranties regarding the goods

9. Governing Law: Specification of applicable law and jurisdiction

Optional Sections

1. Condition of Goods: Detailed description of goods condition (used for second-hand items)

2. Intellectual Property: IP rights provisions (when relevant to the goods)

3. Confidentiality: Confidentiality obligations (for sensitive transactions)

4. Installation: Installation terms (for complex equipment)

5. Training: Training provisions (for technical equipment)

Suggested Schedules

1. Schedule 1 - Description of Goods: Detailed specification of goods being purchased

2. Schedule 2 - Price Breakdown: Detailed breakdown of purchase price components

3. Schedule 3 - Delivery Schedule: Detailed delivery timeline and requirements

4. Schedule 4 - Warranty Terms: Detailed warranty terms and conditions

5. Schedule 5 - Technical Specifications: Technical details and requirements (if applicable)

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
























Clauses






























Relevant Industries
Relevant Teams
Relevant Roles
Industries

Sale of Goods Act 1979: Primary legislation governing contracts for the sale of goods in England and Wales. Defines fundamental rights and obligations of buyers and sellers, including implied terms about quality and fitness for purpose.

Supply of Goods and Services Act 1982: Legislation relevant when the purchase includes any associated services alongside goods. Establishes statutory requirements for service provision.

Consumer Rights Act 2015: Key legislation providing additional protections when one party is a consumer rather than a business. Sets out consumer-specific rights and remedies.

Unfair Contract Terms Act 1977: Regulates the use and enforcement of exclusion clauses in contracts. Determines which terms may be considered unfair or void under English law.

Contracts (Rights of Third Parties) Act 1999: Legislation governing how and when third parties may enforce terms of a contract to which they are not a direct party.

Data Protection Act 2018 and UK GDPR: Legislation governing the handling and protection of personal data in commercial transactions and broader business operations in the UK.

Misrepresentation Act 1967: Provides protection and remedies against false statements made during contract formation that induced a party to enter into the contract.

Limitation Act 1980: Sets out the time limits within which different types of legal claims must be brought, including contract-related claims.

Fraud Act 2006: Defines fraud offenses and provides the legal framework for anti-fraud provisions in contracts and commercial transactions.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Single Option Agreement

find out more

Simple Stock Option Agreement

find out more

Simple Right Of First Refusal Agreement

find out more

Repurchase Option Agreement

find out more

Purchase Agreement With Payment Plan

find out more

Non Exclusive Option Agreement

find out more

Mobile Home Lease To Own Contract

find out more

Master Leasing Agreement

find out more

Master Lease With Option To Purchase

find out more

Lease To Own Mortgage

find out more

Lease To Own Land Agreement

find out more

Lease To Own Business Contract

find out more

Lease To Buy Option Homes

find out more

Lease And Purchase Agreement

find out more

Land Lease Purchase Agreement

find out more

Land Buying Agreement

find out more

Flex Option Agreement

find out more

Flat Buying Agreement

find out more

Equipment Lease Agreement With Option To Purchase

find out more

Cooperative Lease Option

find out more

Contract For Lease To Own

find out more

Company Equity Share Agreement

find out more

Cash Payment Agreement

find out more

Business Lease Purchase Agreement

find out more

First Option To Buy Agreement

An English law agreement granting exclusive rights to purchase specified property at agreed terms within a defined period.

find out more

Assignable Option Agreement

A contract under English and Welsh law granting transferable rights to engage in a future transaction on predetermined terms.

find out more

Truck Lease To Own Agreement

An English and Welsh law agreement establishing terms for leasing a truck with eventual ownership transfer upon completion of specified payments.

find out more

Owner Finance Purchase Agreement

A legal agreement under English and Welsh law where the property seller provides direct financing to the buyer, outlining sale terms and payment arrangements.

find out more

Short Term Investment Agreement

A legally binding agreement under English and Welsh law governing short-term capital investments, including terms, conditions, and regulatory compliance.

find out more

Seller Financing Purchase Agreement

An English law agreement where the seller finances the buyer's purchase, including payment terms and security arrangements.

find out more

Option To Purchase Business Agreement

A contract governed by English and Welsh law granting the right to purchase a business at agreed terms within a specified period.

find out more

Commercial Lease With Option To Purchase

An English and Welsh law agreement combining a commercial property lease with an option for the tenant to purchase the property under specified terms.

find out more

Outright Purchase Agreement

A contract governed by English and Welsh law for the complete transfer of ownership of goods or assets from seller to buyer.

find out more

Land Option Contract

An English law agreement granting the right to purchase specified land within a set period at a predetermined price.

find out more

Right Of First Refusal Agreement

An English law agreement granting one party the right to enter into a specified transaction before third parties may be offered the same opportunity.

find out more

Option To Buy Contract

A legal agreement under English and Welsh law granting the right to purchase specified property at agreed terms within a set timeframe.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.