A Brief Introduction About the Firearm Purchase Form
A form to purchase a firearm needs to be filled up when a transaction involving a firearm takes place. This is a legal document and is required when there are private transactions. Firearms need to be sold in accordance with local and state laws. The federal laws need to be followed, as well.
Selling the firearm is a critical decision, considering the nature of the product being sold. When you are selling it to someone other than your friends or relatives, it is important to conduct a background check after asking for a valid proof of identity. There are various dedicated online sites where the background of the buyer can be verified.
The price, mode of payment, and the payment terms are also contained in the agreement. The buyer needs to sign a disclaimer, which states that they have attained a majority in terms of age. This will protect the seller should the buyer commits an offense.
The agreement must contain the serial number of the firearm, as ones without are considered illegal. The identities of the buyer and seller of the firearm are stated in the agreement. The make, model, caliber, and a serial number of the firearm are also included. Both the buyer and seller need to sign a disclosure, which states that they are competent to enter the contract. Their signatures need to be verified by the Notary Public and two witnesses.
Who Takes the Firearm Purchase Form
A form to purchase a firearm is usually taken by the buyer and the seller of a firearm. This form ensures that all the relevant details of the buyer, seller, and firearm are provided. The buyer and seller also sign a disclosure that they are eligible to enter a contract and that the title to the gun is clear. Both parties state that they don’t have a criminal background.
Purpose of the Firearm Purchase Form
Considering the nature of the item being transacted, there are extra clauses mentioned in the form for a firearm purchase.
To transact in firearms, a Federal Firearms License (FFL) is required by all establishments. Extensive background checks of customers are carried out. Private gun owners don’t need an FFL license. These forms are governed by the gun laws of the state in which the sale is taking place. The sale of firearm from someone who is not an authorized dealer is considered an offense.
The identity of the buyer is verified by the seller before entering a contract so that the firearm is not sold to someone with a criminal background. The serial number of the firearm is checked as firearms without a serial number are not considered legal. As both the buyer and the seller makes a disclosure about their background, the interest of both parties to the contract is protected.
Contents of the Firearm Purchase Form
A federal purchase firearm form is drafted according to the Federal Firearms Regulations. Intensive checks on the background of the customer are carried out so that risk is minimized.
The contents of a standard form are as under:
- The names of the buyer and seller of the firearm
- The date on which the sale has taken place
- A detailed description of the firearm along with the serial number, year of manufacture and model
- Disclosure by both parties to the agreement stating that they have not been involved in any criminal activity and are of legal age to enter a contract
- Signature of the buyer and the seller are verified by two witnesses and notarized by the Notary Public
How to Draft the Firearm Purchase Form
While drafting the agreement, the following points need to be considered:
- Eligibility to enter a contract: Both parties to the agreement must be of legal age, of sound mind, and not be under coercion to enter the contract.
- The consideration paid for the firearm: The agreed price and the payment schedule, including the mode of payment
- Terms of the contract: The agreement should not favor the buyer or seller of the firearm. The contract should be drafted in such a way that both parties achieve what they require through the agreement.
- Confidentiality clause: Details of the sale should not be shared with a third party considering the sensitive nature of the contract.
- Dispute resolution clause: If there is a dispute between both parties, the dispute resolution process should be clearly stated, including whether arbitration or litigation should be resorted to, legal fees and the jurisdiction
When it comes to a fire purchase form, the price of the firearm will depend on the make, model, and year of manufacture. The seller can quote a price to the buyer, and the buyer, after comparing prices of similar firearms will make a counteroffer. Both parties can then come to a consensus, and the agreement can be signed.
Benefits and Drawbacks of the Firearm Purchase Form
The benefits of a firearm purchase form are:
- Protection of the interests of both parties: The interests of both the buyer and the seller of the firearm are protected. Both parties are required to make disclosures regarding their background, stating that they have never been involved in any criminal activity and have the legal right to possess a firearm. So, if either party commits an offense, the other party is protected by the agreement.
- Legal purchase: Only firearms that bear the required serial number are transacted in such agreements. This ensures that the purchase and sale are legal.
- Exiting the agreement: In case either party to the agreement is not comfortable getting into a contract with the other party, they can exit the agreement.
Here are the drawbacks of a firearm purchase form:
- Legal problems: If there is no agreement, then the buyer or seller could face legal action if any party is found to misuse the firearm. The penalties would be very serious.
What Happens in Case of a Violation?
If either the buyer or seller of the firearm makes any false disclosures in the form, then the other party can take legal action against them.
The injured party can claim monetary damages from the party violating the agreement, as well as legal charges to make a claim. If any party enters the contract due to fraud, then the contract will be canceled under rescission or a new contract drafted by the court. If the contract is at an advanced stage, then the party violating the contract has to complete the contract under specific performance.
The parties to the contract must ensure that the details like the serial number of the gun, the make and year of manufacture are correctly entered in the contract.
Both parties to the firearm purchase form should exercise extreme caution while entering a firearm agreement. The background of the buyer and seller should be verified by the other party through specific online sites. The firearm should bear a serial number(1). The form should include the disclosure by both parties. The buyer and seller should read all the terms and conditions of the form before signing it(2).