Agreement to transfer title to real property or tangible assets at a given price. Actual delivery is effected by delivery of a signed, sealed, and acknowledged deed. This may happen days or months later, normally when the buyer has fulfilled certain conditions, such as making a certain number of payments. See also Conditional Sales Contract.
Contract of sale
| Banking Dictionary: Contract of Sale |
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| Real Estate Dictionary: Contract of Sale |
Same as Agreement of Sale.
| Wikipedia: Contract of sale |
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A contract of sale is a legal contract an exchange of goods, services or property to be exchanged from seller (or vendor) to buyer (or purchaser) for an agreed upon value in money (or money equivalent) paid or the promise to pay same. It is a specific type of legal contract.
An obvious ancient practice of exchange in many common-law jurisdictions it is now governed by statutory law that is designed to make transactions among merchants and consumers straightforward and easy to understand. See commercial law.
Contracts for sale involving goods are governed by Article 2 of the Uniform Commercial Code in most United States and Canadian jurisdictions, however in Quebec such contracts are governed by the Civil Code of Quebec as a nominate contract in the book on the law of obligations.
See also
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 | Purchase Agreement |
| Vendee (business term) |
| Contract for Purchase or Sale |
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Wikipedia. This article is licensed under the Creative Commons Attribution/Share-Alike License. It uses material from the Wikipedia article "Contract of sale". Read more |
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Mentioned in
- Purchase Agreement
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- Contract for Purchase or Sale
- Agreement of Sale (business term)
