absolute and conditional sales

absolute and conditional 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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  • conditional 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 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 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… …   Black's law dictionary

  • conditional 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… …   Black's law dictionary

  • conditional — I adjective alterable, changeable, conditioned, containing stipulations, contingent on, dependent on, depending on, depending on a future event, determined by, equivocal, granted on certain terms, hypothetical, imposing a condition, indefinite,… …   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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