Document background
The As Is Sale Contract is essential for transactions where items are sold in their existing condition without warranties or guarantees beyond those statutorily required under Malaysian law. This document type is particularly relevant for used equipment sales, property transactions, or situations where the seller wishes to limit future liability regarding the item's condition. The contract incorporates specific provisions required under Malaysian legislation, including the Contracts Act 1950 and Sale of Goods Act 1957, while explicitly documenting the buyer's acceptance of the current condition of the goods or property. It's commonly used in business-to-business transactions, asset disposals, and secondary market sales where transparency about the item's condition is crucial for avoiding future disputes.
