Sales Contract

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 ?
If the developer and buyer subsequently reach an amicable settlement, it must be added to the sales contract and signed by both.
At its root, a sales contract is a verbal or written agreement between a buyer and seller "in which the terms, conditions and details of the transaction are specified," according to NACM.
Part 1: Sales contract, which is the subject of school transport Smart Pack.
PCY) announced that it had entered into a coal sales contract with a local Mongolian direct reduced iron (DRI) manufacturing plant, for the sale of 22,100 tonnes of thermal coal from the PCY's Ulaan Ovoo mine.
In her judgment, the judge noted that "the fact they (plaintiffs) submitted a sales contract to the Land Registry did not mean they automatically and in perpetuity have become the 'owners' (as they mean it) of the residence.
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.
1, with the terms of the sales contract left intact, government officials said.
In other words, you don't have to explicitly provide for these conditions in a sales contract -- whether as a seller or a buyer -- to have them apply.
Since there was no sales contract, the seller cannot be deemed to have defaulted so as to become liable for the broker's commission.
An employee who accepts the RSC's offer signs a sales contract with the RSC as the buyer.
Consultation & Contract Review - For $369, the real estate consumer gets the services of the Legal Consultation and Sales Contract Review packages.
Sales contract with the head gardener Management Company for the purchase of 1 new cserepezog?