Bill-of-Sale / Hold-Harmless Agreement
(reprinted from Velocity Views with permission courtesy of Rick Lavoie)
SAMPLE BILL OF SALE 8: HOLD-HARMLESS LANGUAGE
Amateur-built Experimental Category Aircraft
Velocity RG, Serial number DMO xxx, Aircraft FAA Registration number Nxxxx,
Engine IO360-CIE6 Serial number LA4555-95
Seller warrants to Buyer the following: (i) Seller is the owner of the Aircraft; (ii) Seller has the legal right to sell the Aircraft; (iii) the Aircraft is free and clear of all liens and encumbrances and (iv) Seller will defend title of the Aircraft against any claim or demand except any lienholder disclosed in this Bill of Sale.
Disclosed Lienholder(s): none
BUYER UNDERSTANDS THAT HE IS BUYING AN AMATEUR BUILT EXPERIMENTAL CATEGORY AIRCRAFT REGISTERED AS SUCH WITH THE FAA AS INDICATED BY THE AIRWORTHINESS CERTIFICATE. THE BUYER UNDERSTANDS THAT THE AIRCRAFT WAS BUILT BY AN AMATEUR (john P. Seller) AND THAT ONLY THE GENERAL QUALITY OF THE WORKMANSHIP AND NOT THE DESIGN HAS BEEN APPROVED BY THE FAA.
BUYER HAS EXAMINED OR HAS HAD AN OPPORTUNITY TO EXAMINE THE AIRCRAFT. SELLER HAS RECOMMENDED TO THE BUYER THAT A LICENSED INSPECTOR EXAMIN E THE AIRCRAFT TO CONDUCT A “PRE-BUY” INSPECTION.
SELLER HAS EXPLAINED THE LIMITATIONS OF THE AIRCRAFT TO BUYER, INCLUDING THE FOLLOWING PARTICULAR DANGERS AND SPECIAL REQUIREMENTS IN ITS OPERATION:
– THE VELOCITY IS A VERY FAST & AERODYNAMICALLY CLEAN (low drag) SPORT TYPE AIRCRAFT WHICH IS DIFFERENT FROM STANDARD / NON-CANARD TYPE AIRCRAFT. THIS AIRCRAFT WILL GAIN SPEED AT A RAPID RATE IN A DIVE DUE TO ITS CLEAN LOW DRAG DESIGN. A CANARD PLANE IS DIFFERENT AND REQUIRES A DIFFERENT TECHNIQUE FOR TAKE OFF AND LANDING.
BUYER REPRESENTS THAT HE IS CAPABLE & COMPETENT OF FLYING THIS TYPE OF AIRPLANE (CANARD TYPE DESIGN VELOCITY) AND IF NOT, WILL SEEK DUAL INSTRUCTION IF CURRENT LOGGED TIME IN THIS TYPE AIRCRAFT IS INSUFFICIENT.
BUYER AGREES THAT THE SELLER SHALL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING OUT OF SELLER’S OWNERSHIP OF THE AIRCRAFT.
THERE ARE NO WARRANTIES WHICH EXTEND BEYOND THE DESCRIPTION OF THIS AIRCRAFT ON THE FACE HEREOF. BUYER TAKES THIS AIRCRAFT AS IT IS AND WITH ALL FAULTS AND WITHOUT ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHER WARRANTY, WHETHER EXPRESS OR IMPLIED, NEITHER THE LOGBOOK OR THE CERTIFICATE OF AIRWORTHINESS OR ANY OTHER WRITTEN OR ORAL STATEMENT IS INTENDED BY SELLER AS A WARRANTY OF THE AIRWORTHINESS OR OTHER QUALITY OR CAPABILITIES OF THIS AIRCRAFT. THE SELLER DISCLAIMS THE ACCURACY OF ANY MAINTENANCE RECORDS, OTHER THAN THOSE DURING THE TIME OF OWNERSHIP BY THE SELLER. THE BUYER AGREES TO DEFEND AND INDEMNIFY THE SELLER FOR LOSSES OCCURRING OUT OF THE SUBSEQUENT OPERATIONS OF THE AIRCRAFT.
This bill of sale and hold-harmless agreement shall be governed under the laws of the State of xxx xxxxxx. This agreement shall not be modified except by an instrument in writing agreed to by both the Seller and the Buyer. Both the Buyer and the Seller are of legal age and under no disability. Agreed and accepted this date by both the Seller and the Buyer:
Dated, Signed by both buyer 8: seller, Witnessed and Notarized
The above language was compiled from both AOPA’s & EAA’s information. Both AOPA & EAA advise that you consult an attorney to properly draft your document. The above is meant to F be only an example. The publisher and author disclaims any liability for use of the above. It has not been prepared or approved by an attorney!
Posted By: Brett FerrellWednesday July 7th, 2010 at 11:44 PM