Document background
The Sold As Is Contract is a crucial legal document used in New Zealand for transactions where goods or property are being sold in their current condition without substantial warranties or guarantees beyond those required by law. This document is particularly valuable when selling used items, pre-owned equipment, or property that may have known or unknown defects. The contract explicitly outlines the "as is" nature of the sale, ensuring both parties understand that the buyer accepts the item in its current state. It includes essential provisions to comply with New Zealand legislation, including the Fair Trading Act 1986 and the Consumer Guarantees Act 1993, while providing clear documentation of the asset's condition, any known defects, and the terms of sale. This type of agreement is commonly used in both commercial and private sales to minimize post-sale disputes and clearly establish the expectations and obligations of both parties.
