Sale(redirected from sales agreement)
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The act of relinquishing ownership of some asset in exchange for some monetary compensation. Sales 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. An example of a sale is a simple transaction involving widgets. If the seller is willing to accept $2 per widget, and the buyer wishes to purchase 100 widgets, then the seller gives the buyer 100 widgets in exchange for $200. See also: Buy.
- the purchase of a good or service by a buyer from a seller at a stated PRICE or, in some instances, through a BARTER or COUNTERTRADE arrangement.
- price reductions applied to individual items or across the board for a limited period of time by a seller, to increase sales of existing products (a sales period), to clear old stocks prior to selling new lines (an end of season sale), or to sell off the stock of a bankrupt business (a closing down sale).
- a specially convened gathering of sellers and buyers organized as a one-off event such as a jumble sale or on a regular basis such as a monthly AUCTION of second-hand cars.