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The Agreement Of Sale Cancellation is a crucial legal instrument used when parties mutually agree to terminate an existing sale agreement and reverse their transactions. This document type is particularly important in the Austrian legal context, where specific provisions of the ABGB (Austrian Civil Code) govern contract terminations and their consequences. It's commonly used when circumstances change after the original sale agreement, when parties discover issues that make the continuation of the sale undesirable, or when both parties simply agree to unwind the transaction. The document must carefully address all aspects of the cancellation, including return of goods or property, financial settlements, and mutual releases, while ensuring compliance with Austrian legal requirements. It's essential for business transactions where parties need to formally document their agreement to cancel a sale and establish clear terms for unwinding their obligations.

1. Parties: Identification of all parties to the cancellation agreement, including their full legal names, addresses, and registration details if companies

2. Background: Description of the original sale agreement, its date, subject matter, and key terms that are relevant to the cancellation

3. Definitions: Definitions of key terms used in the agreement, including reference to the Original Agreement

4. Cancellation: Clear statement of the mutual agreement to cancel the original sale agreement and the effective date of cancellation

5. Return of Goods/Property: Provisions regarding the return of any delivered goods or transferred property, including condition, timing, and logistics

6. Financial Settlement: Details of any refunds, compensation, or financial adjustments between the parties

7. Mutual Release: Release of parties from their obligations under the original agreement and waiver of claims

8. Governing Law: Confirmation that the agreement is governed by Austrian law

9. Signatures: Execution blocks for all parties