Sales Contract

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Sales Contract

Contract between a seller and buyer for the sale of goods, services, or both.

Sales Contract

A contract between two parties in which one relinquishes ownership of some asset in exchange for some monetary compensation. Sales contracts specify the terms of sale, which may take any of several forms. In a cash sale, the seller receives cash or a cash equivalent immediately in exchange for the asset. In a credit sale, the seller surrenders ownership immediately in exchange for future payment, often with interest.

sales contract

See agreement of sale.

References in periodicals archive ?
Property buyers in Dubai who are in breach of their sales contracts on off-plan projects will find the going tough from now on.
Understanding the basics of sales contracts is a good start for any credit manager monitoring the deals of international transactions.
This lower grade commissioning concentrate is being produced and sold on a spot basis ahead of Sandfire s main copper concentrate sales contracts, which commence in January 2013.
KARACHI -- The Karachi Cotton Association (KCA) has expressed its concern over the suspension of Registration of Export Sales Contracts of raw cotton by the Trade Development Authority of Pakistan (TDAP).
Many companies explicitly require or permit net settlement in their purchase and sales contracts as a matter of course, expecting that these terms would be used infrequently, but serving as a protective device in unusual circumstances.
Forest Service, Sierra Club Hassle Over Timber Sales Contracts
The GAO recommended the Forest Service finalize new regulations for canceling timber sales contracts and complete a new standard timber sales contract that the agency has been working on since the late 1980s.
He noted flint despite practices in downstate New York counties, lawyers in 37 states have largely been eliminated from simple residential sales contracts in cases where there is a broker, a lender and a title company involved.
Further, the sales contracts did not purport to convey ownership to either the taxpayer or the RSCs.
Long-term power sales contracts that qualify as leases are not covered by this EITF abstract.
The services are offered at a deep below market rate and allow home sellers to receive legal consultation and advice, as well as have an attorney assist in the preparation and review of sales contracts.
based customers to get them under long-term sales contracts.