Course:2: Acquiring Your Collections
Lesson:Lesson 4: Acquiring Historical Records and Establishing Legal Control of Them
Topic:Legal Control: Purchase Agreements

Purchase Agreements

A purchase agreement is used when your organization buys the records for a specific sum of money. 

Before you purchase historical records you'll need to make sure the person selling the records has clear ownership of them.

The documentation of a purchase may be as simple as a bill of sale or as complex as a formal contract. You should consider having legal counsel review the documentation, especially if it is a contract, before the purchase is made in order to protect your interests.

Reviewing papers

Protect your interests by having legal counsel review documentation.