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t. e. In contract law, a contract of sale, sales contract, sales order, or contract for sale[ 1] is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent). An obvious ancient practice of exchange, in many common law jurisdictions ...
A bill of sale is a document that transfers ownership of goods from one person to another. It is used in situations where the former owner transfers possession of the goods to a new owner. Bills of sale may be used in a wide variety of transactions: to sell goods, exchange, give, or mortgage objects. They can be used only to transfer ownership ...
As is. " As is " is a phrase used to indicate the existing condition of something without any modifications or improvements. [1] The term is employed in legal, business, and consumer settings to establish that an item or property is being sold or provided in its current condition, [2] [3] with no warranties or guarantees regarding its quality.
Contracts for the sale of goods totaling $500.00 or more. In an action for specific performance of a contract to convey land, the agreement must be in writing to satisfy the statute of frauds. The statute is satisfied if the contract to convey is evidenced by a writing or writings containing the essential terms of a purchase and sale agreement ...
A purchase and sale agreement ( PSA ), also called a sales and purchase agreement ( SPA) [ 1] or an agreement for purchase and sale ( APS ), [ 2] is an agreement between a buyer and a seller of real estate property, company stock, or other assets. The person, company, or other legal entity acquiring, receiving, and purchasing the property ...
Warranty. In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects. [ 1] In property law, it refers to a covenant by the grantor of a deed. [ 2] In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured.
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