contract of sale

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.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson