contract of sale

(redirected from Sale contract)
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contract of sale

a CONTRACT under which the SELLER of a product transfers or agrees to transfer the product to the BUYER of the product for a money consideration. Contracts of sale contain various terms or conditions on which the product is to be supplied including, typically, product descriptions, qualities, quantities, delivery dates and prices. Remedies for breach of contract can be sought through the Courts. See SALE OF GOODS ACTS 1979,1962.
References in periodicals archive ?
Global Banking News-October 8, 2018-Parkit declares purchase and sale contract of its JV asset
The signing of a sale contract must follow the due diligence and only upon transfer should the payment of the purchase price be made.
If the developer and buyer reach an amicable settlement, it must be added to the sale contract and signed by both parties.
After the developer receives this document from the department, he is free to take any of the following actions: If the percentage of completion is over 80 per cent, the developer can ask the purchaser to abide by the terms of the sale contract, confiscate the paid amounts and obligate the buyer to make the remainder of the payment specified in the contract or otherwise request the DLD to auction the property to collect the remaining amount.
If the percentage of completion is less than 60 per cent, the developer may void the sale contract solely, retain upto 25 per cent of the sale contract's value and return the remaining amount to the buyer within one year of the date of contract cancellation or within 60 days of the date of re-selling the property, whichever is earlier.
Beltone Financial Holding said the sale contract signed with Commercial International Bank (CIB) on 28 February to buy the bank's share in CI capital would not be extended.
M2 EQUITYBITES-April 26, 2016-Consolidated Tomoka sells office building for USD3.0m and signs new sale contract
Three sale contract shall be issued in three copies; where the contracting parties, or their authorized representatives, shall sign the contract before the Notary Public, before handing over a copy of the sale contract to each party, while the third copy of the sale contract shall be kept in the sold property file.
Contemporaneously with the filing of its bankruptcy petition, the Debtor entered into a Contract of Sale, as amended (the "Sale Contract"), with the Purchaser,
AITAB is a leasing contract (Ijarah) followed by sale contract (Bai').
of Virginia) explains the law regarding modern real estate transactions to law students and practitioners, covering the basic transaction, including the parties involved in the transaction, broker-vendor agreements, the purchase and sale contract, the closing, breach of the purchase and sale contract, financing, voluntary and involuntary transfers of the mortgage and mortgaged property, predatory lending issues, limitations on foreclosure, bankruptcy, private and public techniques of title guarantee, and forms of communal ownership and homeowners association.