absolute sales

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 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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