Which document outlines the rights and responsibilities of parties in commerce?

A sales agreement is a legal document that delineates the terms of a transaction between a buyer and a seller. It specifies the rights and responsibilities of both parties involved in the sale of goods, including details such as the product or service being sold, pricing, payment terms, delivery methods, and warranties. This structure is foundational in ensuring both parties understand their obligations and can help prevent disputes by providing a clear reference for the terms of the trade.

While other documents such as a service contract and customer agreement may also outline rights and responsibilities, the sales agreement is specifically tailored to transactions involving the sale of goods. A service contract typically pertains to the provision of services rather than goods and often has different stipulations. A customer agreement generally relates to the terms of service offered to a customer, which might not cover the entire scope of rights and obligations in a sales context. A business license, on the other hand, is a permit that allows a business to operate legally but does not address the specific transaction rights and obligations between buyers and sellers.

Thus, the sales agreement is the most comprehensive and relevant document for outlining the rights and responsibilities in commercial transactions, making it the correct choice.