absolute sale

absolute sale
absolute and conditional sales
An absolute sale is one where the property in chattels passes to the buyer upon the completion of the bargain. A conditional sale is one in which the transfer of title is made to depend on the performance of a condition, usually the payment of the price; it is a purchase for a price paid or to be paid, to become absolute on a particular event, or a purchase accompanied by an agreement to resell upon particular terms. Under a conditional sale the seller reserves title as security for payment for goods.
- secured transaction

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • absolute sale — see sale Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • sale — n 1 a: the transfer of title to property from one party to another for a price; also: the contract of such a transaction see also short 1 2 compare barter, donation …   Law dictionary

  • absolute sales — absolute and conditional sales An absolute sale is one where the property in chattels passes to the buyer upon the completion of the bargain. A conditional sale is one in which the transfer of title is made to depend on the performance of a… …   Black's law dictionary

  • absolute and conditional sales — An absolute sale is one where the property in chattels passes to the buyer upon the completion of the bargain. A conditional sale is one in which the transfer of title is made to depend on the performance of a condition, usually the payment of… …   Black's law dictionary

  • absolute — ab·so·lute adj 1 a: free from qualification, condition, exception, or restriction rights that even seem absolute have these qualifications Long v. Rockwood, 277 U.S. 142 (1927) see also absolute ownership at ownership compare …   Law dictionary

  • absolute — Complete; perfect; final; without any condition or incumbrance; as an absolute bond (simplex obligatio) in distinction from a conditional bond. Unconditional; complete and perfect in itself; without relation to or dependence on other things or… …   Black's law dictionary

  • absolute — Complete; perfect; final; without any condition or incumbrance; as an absolute bond (simplex obligatio) in distinction from a conditional bond. Unconditional; complete and perfect in itself; without relation to or dependence on other things or… …   Black's law dictionary

  • absolute auction — ➔ auction1 * * * absolute auction UK US noun [C] ► COMMERCE an auction (= type of sale) where something is sold to the person who offers the most money, and does not have a reserve price (= minimum sale price): »Although the seller was… …   Financial and business terms

  • absolute triple net lease — USA absolute triple net lease. Also known as a bondable lease. An extreme variation of a net lease , where the tenant is typically responsible for all, or most, of the risks related to the real property. A tenant is usually responsible for all of …   Law dictionary

  • sale — A contract between two parties, called, respectively, the seller (or vendor) and the buyer (or purchaser), by which the former, in consideration of the payment or promise of payment of a certain price in money, transfers to the latter the title… …   Black's law dictionary

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