Common use of The basic contract Clause in Contracts

The basic contract. 3.1.1 This is a hire agreement. We own the Equipment and hire it to you for the Hire Period, for a Charge. You may not deal with the Equipment in any way which is contrary to our ownership of it. If you do, you will be in breach of this agreement and will also be committing a criminal offence. 3.1.2 The Hire Period is [insert date]. 3.1.3 The Quotation is an invitation to hire. Neither of us is bound to a legal agreement until you accept and sign this agreement. 3.1.4 This agreement, the Quotation and the Invoice together constitutes the entire agreement between us and extinguishes all previous agreements, promises, assurances, warranties, representations, and understandings whether written or oral. By signing, you accept the terms set out in the Quotation and the terms of this agreement. 3.1.5 Risk in the Equipment transfers immediately to you when the Equipment leaves our possession. That means you are responsible for taking care of it. The risk of loss, theft, damage or destruction of the Equipment shall remain at the sole risk of the Hirer during the Rental Period and any further term during which the Equipment is in the possession, custody or control of the Hirer until such time as the Equipment is redelivered to the Owner.