Sales Contract

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • deal
  • purchase agreement
  • agreement of sale

Alternate Spellings

  • Agreement of Sale

Definition of Sales Contract

  1. A written document in which a purchaser agrees to buy property under certain given conditions, and the seller agrees to sell under certain given conditions. Also known as an "Agreement of Sale."

Related Terms and Acronyms

  • Contract For Deed (CFD) Acronym,
    • An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made. Also called a land contract.
  • Agreement of Sale (AOS) Acronym,
    • A document in which a property's buyer and seller approve the price and other terms of the transfer of title.
  • Conditional Sale (C/S) Acronym,
    • An agreement between the buyer and seller in where certain conditions must be met before the property sale can be finalized.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Title Definition,
    • Evidence of a person's right to possession ownership of a property.
  • Housing Discrimination Definition,
    • The illegal practice of discriminating against buyers or renters of dwellings on the basis of race, colour, religion, national origin, sex, family status or disability.
  • Sale Price Definition,
    • The price that is paid for an asset.
  • Land Contract (LC) Acronym,
    • An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made.
  • Statute of Frauds (SOF) Acronym,
    • A law which provides that certain contracts must be in writing to be enforceable at law. This includes real estate contracts.
  • Contract to Purchase Definition,
    • A document in which a property's buyer and seller approve the price and other terms of the transfer of title. Also known as an agreement of sale, a purchase contract or a sale contract.
  • Purchase Agreement Definition,
    • A written promise to pay a specific amount for a property at a specified time. The purchase agreement is a written statement of the offer, which both the borrower and the seller will sign if the offer is accepted.
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