conditional sale agreement

conditional sale agreement
A contract of sale under which the price is payable by instalments and ownership does not pass to the buyer (who is in possession of the goods) until specified conditions relating to the payment have been fulfilled. The seller retains ownership of the goods as security until being paid in full.

Big dictionary of business and management. 2014.

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  • conditional sale agreement — A conditional sale agreement is an agreement in which the ownership of the goods passes to the buyer once he has fulfilled certain conditions i.e. usually until he has paid all of the instalments. Easyform Glossary of Law Terms. UK law terms.… …   Law dictionary

  • conditional sale — The sale of goods where the price is payable in instalments. The goods remain the property of the seller until the full price is paid or the customer meets another condition. HM Customs & Revenue Glossary * * * conditional sale conditional sale ➔ …   Financial and business terms

  • conditional sale — absolute and conditional sales An absolute sale is one where the property in chattels passes to the buyer upon the completion of the bargain. A conditional sale is one in which the transfer of title is made to depend on the performance of a… …   Black's law dictionary

  • conditional sale — noun 1. a security interest taken by the seller in return for credit • Hypernyms: ↑security interest 2. a sale in which the buyer receives title to the property only upon the performance of some condition (usually the full payment of the purchase …   Useful english dictionary

  • conditional sale contract — Form of sales contract in which seller reserves title until buyer pays for goods or land, at which time, the condition having been fulfilled, title passes to buyer. Such contract under Uniform Commercial Code is a purchase money security… …   Black's law dictionary

  • conditional sale contract — Form of sales contract in which seller reserves title until buyer pays for goods or land, at which time, the condition having been fulfilled, title passes to buyer. Such contract under Uniform Commercial Code is a purchase money security… …   Black's law dictionary

  • sale — An agreement between a buyer and a seller on the price to be paid for a security, followed by delivery. Bloomberg Financial Dictionary * * * sale sale [seɪl] noun 1. [countable, uncountable] COMMERCE the act of selling someone property, food, or… …   Financial and business terms

  • sale — n 1 a: the transfer of title to property from one party to another for a price; also: the contract of such a transaction see also short 1 2 compare barter, donation …   Law dictionary

  • conditional — I adjective alterable, changeable, conditioned, containing stipulations, contingent on, dependent on, depending on, depending on a future event, determined by, equivocal, granted on certain terms, hypothetical, imposing a condition, indefinite,… …   Law dictionary

  • sale — A contract between two parties, called, respectively, the seller (or vendor) and the buyer (or purchaser), by which the former, in consideration of the payment or promise of payment of a certain price in money, transfers to the latter the title… …   Black's law dictionary

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