Document background
The Simple Agreement of Sale is a fundamental commercial document used in Malaysian business transactions when parties need to document a straightforward sale of goods or assets. This agreement type is particularly suitable for uncomplicated transactions where the main terms can be clearly stated without extensive conditions or complex arrangements. The document is governed by Malaysian law, specifically the Contracts Act 1950 and Sale of Goods Act 1957, and must be properly stamped under the Stamp Act 1949 to be admissible in court. It's commonly used by businesses and individuals alike, providing a clear framework for the sale transaction while maintaining simplicity and protecting both parties' interests through basic but essential terms.
