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Any item being sold. It must be a defined item and can vary from a piece of property to a small item such as a pencil. The item description, the price and delivery date are the key items.
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∙ 7y ago
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Can future inheritance be subject of a contract of sale?
In most cases, future inheritance cannot be subject to a contract of sale as it is not considered a present asset or property owned by the individual at the time of the contract. Future inheritance is uncertain and contingent on the death of the benefactor, making it difficult to legally include in a contract.
Can you distinguished Contract of Sale from contract to sell?
Contract to sell is an executory contract while contract of sale is an executed contract.
What is the difference between contract of sell from contract of sale?
"Contract of sell" is just "contract of sale" misspelled.
What does sale agreed stc mean?
it means: sale agreed subject to contract - as in the sale of a property where the sale has been verbally agreed and simply awaits the formal signing and exchange of the legal contracts
What does mean sales agreed?
it means: sale agreed subject to contract - as in the sale of a property where the sale has been verbally agreed and simply awaits the formal signing and exchange of the legal contracts
What is a contract of sale of goods?
bill of sale
What are the 2 kinds of contract of sales?
1.Absolute -- where the sale is not subject to any condition whatsoever and where the title passes to the buyer upon delivery of the thing sold.2.Conditional -- where the sale contemplates a contingency and where the contract is subject to certain conditions, usually in the case of the vendee, for the full payment of the agreed purchase price.
What is a valid sale and give examples?
VALID SALE ( Bai Sahih)-a sale is valid if all elements together with their conditions arepresent-elements of valid sale are•Contract ( Aqd )•Subject matter ( Mabe'e)•Price ( Thaman )•Possession or delivery ( Qabza )
What are the relevance of capacity to contract in a sale of goods contract?
if one of the parties does not have the capacity to contract there will be no contract formed
What is a commercial contract for?
A commercial contract is a contract the performance of which contemplates a commercial transaction of some kind. In the U.S., contracts for the sale and conveyance of goods are subject to Article 2 of the Uniform Commercial Code, as enacted in the relevant State's statutes.
What is a foreclosure under contract?
That means a lender has executed a purchase and sale contract on a property it owns by foreclosure and a sale is pending.
Can a sale contract be void if the name is not correct on the contract?
yes!!!!!!!!!!!!!!!!!! if a business name is incorrect on contract can it be terminated
