Timber Contracts Summary • Additonal Materials • Extension Agent Resources

1. A typical timber sale contract includes which of the following?

   1.   ?            A description of the timber to be sold
   2.   ?            The selling price of the timber
   3.   ?            Explanation for adherence to the Best Management Practices
   4.   ?            All of the above

2. True or False: Oral agreements (handshake,etc) take precedence over written contracts.

   1.   ?            True
   2.   ?            False

3. Which of the following is not an essential item in a timber sale contract

   1.   ?            The dates during which the contract will be in effect.
   2.   ?            Payment terms
   3.   ?            A provision stating that logging can only be done when the ground is dry.
   4.   ?            A release of the seller from liability caused by the buyer's logging operation.

4. What is a performance bond?

   1.   ?            An assurance that the logging crew know how to operate their machinery.
   2.   ?            An assurance to the seller that the buyer will not cause unusual damage or cut trees not in the sale.
   3.   ?            A guarantee that no concerts will be held at the logging site.
   4.   ?            None of the above

5. True or False: Anyone entering into a timber sale contract should consult an attorney for advice.

   1.   ?            True
   2.   ?            False