How would i make a simple little contract for somebody to pay half $$ now, and half later?

[neonerd]

I basically need a small contract where the buyer agrees to pay half of the money for a computer now, and half a week later...kind of like a payment plan. Basically asking here so it doesn't have any loop holes.

maybe something like:

I _________________ agree to pay the amount of $280 upon receiving the merchandise (of which the specifications are below), and to complete the payment two weeks after the first payment. Both payments, are to be in the amount of $280. The afore mentioned item will be transferred into my possession at the time of the first payment.

Date of First payment: ______________
Date of final payment: ______________

Specifications of Item/Merchandise:

1x Corsair VS512MB400 512MB DDR400 PC3200 CAS2.5 Value Select Memory
1x AMD Athlon 64 3000+ Processor Socket 939
1x MSI K8T Neo2-F Via K8T800 Pro
1x Chaintech SA5700L GeForce FX5700 LE AGP 8X 256MB DDR
1x Western Digital Caviar WD800BB 80GB Ultra ATA/100 7200RPM
1x Rosewill Gold/Black ATX Mid Tower Case with 400W Power Supply

EDIT: How would i rephrase the first paragraph to say you pay me $280 to order the items, and two weeks after i give you your pc, you give me the other $280?

 

[Argo]

You probably want to include what they're paying for and that the afore mentioned item has been transfered into their possession at the time of the first payment.

 

[axelfox]

That's not a contract dude. You'll need to put what it is for also.

That's more of an IOU.

 

[neonerd]

how's this?

I _________________ agree to pay the amount of $280 upon receiving the merchandise (of which the specifications are below), and to complete the payment two weeks after the first payment. Both payments, are to be in the amount of $280. The afore mentioned item will be transferred into my possession at the time of the first payment.

Date of First payment: ______________
Date of final payment: ______________

Specifications of Item/Merchandise:

1x Corsair VS512MB400 512MB DDR400 PC3200 CAS2.5 Value Select Memory
1x AMD Athlon 64 3000+ Processor Socket 939
1x MSI K8T Neo2-F Via K8T800 Pro
1x Chaintech SA5700L GeForce FX5700 LE AGP 8X 256MB DDR
1x Western Digital Caviar WD800BB 80GB Ultra ATA/100 7200RPM
1x Rosewill Gold/Black ATX Mid Tower Case with 400W Power Supply


Signature

or is it too jumbled in the paragraph?

 

[Injury]

A contract is a contract. If their signature is on it, it would be hard to say that they didn't sign and agree to it or anything.

You should add in, though, that if they don't make payment, they are subject to all legal fees incurred in recovering the amount plus 10% interest... otherwise there is no recourse for them not paying you... and it would suck hardcore if you had to hire a lawyer to help you recover the funds.

If you are that worried, make a copy of it with their driver's license included and have it notorized.

edit: out of curiosity, is this for someone you know, or is this a serious customer who has to have this thing that bad this week that they can't give you the money all at once?

 

[neonerd]

Originally posted by: Injury
A contract is a contract. If their signature is on it, it would be hard to say that they didn't sign and agree to it or anything.

You should add in, though, that if they don't make payment, they are subject to all legal fees incurred in recovering the amount plus 10% interest... otherwise there is no recourse for them not paying you... and it would suck hardcore if you had to hire a lawyer to help you recover the funds.

If you are that worried, make a copy of it with their driver's license included and have it notorized.

edit: out of curiosity, is this for someone you know, or is this a serious customer who has to have this thing that bad this week that they can't give you the money all at once?

it's somebody i do know, but the second part is true....their son just broke their computer, and they just called me up asking about this; I have no problem having them pay that way, I just don't want to get scewed over...just preventing the remote possibility if any

better safe than sorry

 

[neonerd]

how would i rephrase the first paragraph?