When you buy machinery whether new or second hand, you are entering into a contract with the seller – even if the agreement is verbal.
When selling your equipment, it’s important to understand whether you are doing so in the course of your business or as a private individual, as different rights and responsibilities apply. You could be liable for problems that come to light after the sale.
What the law says
Contracts between businesses (sometimes called B2B contracts) have significant differences from those between a consumer and a business. It is important to recognise that many of the protections afforded to consumers, such as cooling off periods will not apply when entering into B2B contracts.