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sales contract |
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Sales Contract 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 equivalentimmediately 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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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