sale on approval

sale on approval
A species of conditional sale, which is to become absolute only in case the buyer, on trial, approves or is satisfied with the article sold. The approval, however, need not be express; it may be inferred from his keeping the goods beyond a reasonable time.
See also sale or return, below; and approval sales.
A sale is a sale on approval if the goods may be returned by the buyer though they conform to the contract and if they are primarily delivered for use. Generally, such goods are not subject to the claims of the creditors of the buyer until acceptance. U.C.C. No.No. 2-326, 2-327

Black's law dictionary. . 1990.

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Look at other dictionaries:

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

  • sale on approval — A sale of personal property, sometimes called a sale on trial, which is subject to a condition precedent, namely the approval of the buyer, the latter having the right to reject the property as not suitable to his needs upon timely notice given… …   Ballentine's law dictionary

  • sale on approval — noun a) The selling of something to a consumer on condition that the latter may return it. b) A sale under this mechanism …   Wiktionary

  • approval — I noun acceptance, accord, acknowledgment, acquiescence, adoption, affirmance, affirmation, agreement, allowance, approbatio, approbation, assent, assurance, authentication, authorization, comprobatio, concordance, concurrence, confirmation,… …   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

  • approval — The act of confirming, ratifying, assenting, sanctioning, or consenting to some act or thing done by another. Approval implies knowledge and exercise of discretion after knowledge. McCarten v. Sanderson, 111 Mont. 407, 109 P.2d 1108, 1112. The… …   Black's law dictionary

  • approval — The act of confirming, ratifying, assenting, sanctioning, or consenting to some act or thing done by another. Approval implies knowledge and exercise of discretion after knowledge. McCarten v. Sanderson, 111 Mont. 407, 109 P.2d 1108, 1112. The… …   Black's law dictionary

  • approval sale — A sale on approval. 46 Am J1st Sales § 492 …   Ballentine's law dictionary

  • sale or return — A type of conditional sale wherein the goods may be returned to the seller though they conform to the contract if the goods are delivered primarily for resale. U.C.C. No.No. 2 326(1), (3), 2 327. A contract for sale of goods whereby title passes… …   Black's law dictionary

  • sale with right of redemption — A sale in which vendor reserves right to take back property by returning price paid. See also sale on approval sale or return, above …   Black's law dictionary

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