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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.
What else can I help you with?
Can future inheritance be a valid object of a contract of sales?
Yes, future inheritance can be a valid object of a sales contract, provided that the parties involved agree to the terms and that it complies with applicable legal standards. However, the sale of future inheritance may face challenges, such as uncertainties regarding the actual inheritance and potential legal issues surrounding the transfer. It's essential for the contract to be clear about the conditions and implications of the sale, and legal advice is often recommended to navigate these complexities.
What is difference between deed of transfer and agreement for sale?
A deed transfer is where under a contract of sale of property in goods is transferred from the seller to the buyer while agreement for sale is where transfer of property is to take place at a future time or is subject to some conditions to be fulfilled latter.
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 are the requirements for trading under commodity?
The Commodity Exchange Act make it illegal to trade a contract for the purchase or sale of a commodity for future delivery a futures contract unless the contract is executed on a federally designated exchange .
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 requirements for trading under commodity exchange?
The Commodity Exchange Act make it illegal to trade a contract for the purchase or sale of a commodity for future delivery a futures contract unless the contract is executed on a federally designated exchange .
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 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.
