Sales Contract(redirected from Sales Contracts)
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
See agreement of sale.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.