Money Inc. Features Shackelford, Bowen, McKinley & Norton Aviation Attorney Greg Reigel on Purchasing Agreements

Aircraft Purchase Agreement: The Roadmap to a Successful Transaction

Published October 22, 2018

Aircraft purchase agreements should be used in almost every aircraft sale transaction. First, the law in most states requires that a contract for an amount greater than $500 be in writing in order for it to be enforceable. This is called the statute of frauds. Although exceptions to this legal doctrine exist, complying with the law is usually safer than hoping you will be able to take advantage of an exception.

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