Sale

Sale
Related Category: Legal Terms and Concepts
in law, transfer of ownership in return for money.

Sale definition:
The exchange of goods or services for consideration.
Related Terms: Money
At ¶286 of CCH Canadian, Justice Rothstein of the Federal Court of Appeal (Canada) adopted these words: ...

Sale
(n) Sale is transferring the title on a property, goods or merchandise for a consideration expressed in monitory terms settled either by payment in cash or by exchange or goods of same worth.

Bulk Sale The sale of all or most of a business's inventory, merchandise, or equipment. (See also: bulk sales law)
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The sale of real property may take place at the courthouse. If the property that the plaintiff seeks is perishable and in danger of waste or decay, the sale may occur at some other time and place.

BILL OF SALE - A document under which personal property is transferred from a seller to a buyer.

foreclosure saleWhen a homeowner is about 60 days past due on his/her mortgage payment, the lender (bank) might want to repossess the house to satisfy the outstanding debt.

Terms and Conditions of Sale
These, generally pre-printed, terms and conditions of sale are provided by one trading company to another as the terms upon which they will do business (e.g. sell, supply or purchase goods or services).

sale
n. transfer of something (and title to it) in return for money (or other thing of value) on terms agreed upon between buyer and seller.

SALE, contracts. An agreement by which one of the contracting parties, called the seller, gives a thing and passes the title to it, in exchange for a certain price in current money, to the other party, who is called the buyer or purchaser, who, ...

sale leaseback when a seller deeds property to a buyer for a payment, and the buyer simultaneously leases the property back to the seller.
second mortgage see mortgage ...

On Sale: If an inventor places his or her invention on sale more than one year before a U.S. patent application is filed, then a valid patent cannot be obtained. This is sometimes referred to as the on-sale bar to a patent.

Tax Sale
Public sale of property at auction by governmental authority, after a period of nonpayment of property taxes.

Wash sale
The selling and repurchasing of an asset, usually stock, within a very short time frame.
People used to do this to realize a loss for tax purposes, but the IRS caught on and made such losses non-deductible for most taxpayers.

Bill of Sale:
An agreement in writing signifying that one person for a specific sum of money has acquired specific assets.

BILL OF SALE: A written statement by which one person transfers to another his rights to personal property.
BILL OF PARTICULARS: A document listing the details of a claim for which a suit is brought.

SALE AND RETURN.
When goods are sent from a manufacturer or wholesale dealer to a retail trader, in the hope that he may purchase them, with the understanding that... more ...

Sale, transfer and licensing of trademarks
7.5
Trademarks and Domain Names ...

Sale of Goods Act (SGA) 1979
Implies certain 'conditions' (see 'conditions') into contracts for the sale of goods (e.g. where goods are sold by a trader, the SGA makes it a term of the contract that the goods will be of satisfactory quality).

A sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.

or sale without any special conveyance. But where, as is often the case, the right of presentation has been sold by itself, and so separated from the manor, it is called an advowson in gross.

tax sale
n. an auction sale of a taxpayer's property conducted by the fede...
temporary injunction
n. a court order prohibiting an action by a party to a lawsuit un...

Wash sale
Definition - Noun
[probably from the comparison of such a sale to the act of washing, which does not affect the nature of the thing washed]
: a sale and purchase of securities that produces no change of the beneficial owner
specif ...

bill of sale
A document which enables one person to possess and use goods (the possessor) while another has legal ownership (usually a person or company that has lent money for the purchase of the goods). See: goods mortgage.
bond ...

execution sale The sale of a debtor's property, after which the proceeds are applied towards satisfying the debt; usually used in connection with execution on a judgment or foreclosure on a mortgage.

Transfer and sale
Some mortgages have clauses that allow acceleration if the borrower sells or transfers the mortgaged property. These clauses are intended to protect the lender's security interest in the mortgaged property.

Auction: A sale, open to the public, of items and property sold to the highest bidder.
Authority: 1. The power and right to do a certain act. 2. A person who has been given certain powers and rights.

Bargain & Sale Deed
A deed in which the grantor represents they have an interest in the property being transferred. A bargain and sale deed may include covenants against the grantor's acts, or it may exclude them.
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The profit on the sale of a capital asset, such as stock or real estate. If you sell your primary residence, you can exclude $250,000 in profit from capital gains tax. A couple can exclude $500,000.
capital punishment ...

For example, if I display a basket of fruit in a marketplace and you come by, inspect an apple and then bite into it, you have acquiesced to the contract of sale of that apple.

The Sale of Goods and Supply of Services Act 1980 extends the rights of consumers in this area.
Central Criminal Court: The High Court sitting to deal with serious criminal offences, such as rape and murder.

Ultimately, a lien can be enforced by a court sale of the property to which it attached and then the debt is paid off from the proceeds of the sale.

For example, the rules that regulate the sale of tangible personal property are not at all the same as the rules that control the sale of real property.

The FDA cleared Raplon for sale in the United States in August 1999. Critics have charged the agency with approving drugs too quickly and later having them come off the market for safety reasons. The Raplon review took more than a year, the FDA said.

It is most commonly used to refer specifically to a Writ of Seizure and Sale. Writ of Possession An order for the recovery or delivery of the possession of land.

A patent grants an inventor permission to exclude others from making, using, offering for sale, or selling their invention in the United States or importing their invention into the United States.

Idaho, Louisiana, New Mexico, Nevada and Washington), the property owned by one spouse which he/she acquired: a) before marriage, b) by inheritance, c) as a gift, d) assets traceable to other separate property such as money received from sale of a ...

In a sale of property thereunder, all that could be sold was a right to the property seized, terminating with the life of the offender. Such sale does not effect the rights of a mortgagee in favor of a third person.

An exclusive privilege granted to an inventor to make, use or sale an invention for a set number of years (e.g. in Canada, 17 years).

Often used to describe a situation where a tenant, by staying on location after the sale of the leased property, accepts to be a tenant of the new landlord; ...

A contract presenting at the point of sale, setting out the terms and conditions of the sale. There is no opportunity for negotiation and the terms are usually to the advantage of the seller. Known as the "fine print".
Ad hoc ...

A fine-print consumer form contract which is generally given to consumers at point-of-sale, with no opportunity for negotiation as to it's terms, and which, typically, sets out the terms and conditions of the sale, ...

Equity: The net proceeds from the sale of a home, minus the fees of the solicitor and the real estate agent and the satisfying of the mortgage.
Estate: A right or interest in property or the property of a deceased person.

Infringement
The unauthorized use, sale or manufacture of an invention, trademark, tradename or copyright.
Injunction
An order or writ issuing from a court compelling a party to perform or refrain from performing certain acts.

BUY-SELL AGREEMENT - Contract for the sale of a business or an agreement among business partners that specifies how shares in the business are to be transferred in the case of a co-owner's death.

CAPITAL LOSS: The loss that results from the sale of a capital asset, such as real estate, a house, jewelry or stocks and bonds. Also the loss that results from an unpaid, non-business (personal) loan.

capital gains - The profit on the sale of a capital asset, such as stock or real estate.
capital punishment - The death penalty.

The major reasons for not protecting descriptive marks are: (1) to prevent the owner of a mark from inhibiting competition in the sale of particular goods or services; and (2) to maintain freedom of the public to use the language involved, ...

**per aes et libram - the weighing out of copper or bronze necessary for a formal sale.
*perigrinus - anyone not a Roman citizen and therefore not entitled, normally, to the benefits of the ius civile.

levyA seizure; getting money by seizure and sale of property.
liabilityA legal responsibility, obligation, or debt.

Term: Infringement
Definition: The unauthorized use, sale or manufacture of an invention, trademark, tradename or copyright.

law and motion - levy - A seizure; the obtaining of money by legal process through seizure and sale of property.
liability - A legal responsibility, obligation, or debt.

levy - A seizure; the obtaining of money by legal process through seizure and sale of property.
liability - A legal responsibility, obligation, or debt.
libel - See defamation.

lien: A claim on property to prevent the sale or transfer of that property until a debt is paid. The lien may be enforced or collected by levying on the property. (See also levy.) ...

Strict Liability: Concept applied by the courts in product liability cases that when a manufacturer presents his goods for public sale, he is representing that they are suitable for their intended use.

Implied Warranty of Merchantability - An assumption in law that the goods are fit for the ordinary purposes for which such goods are used. This implied warranty applies to every sale by a merchant who deals in goods of the kind sold.

It has a half-life of 15 years and can collect in fatty tissues of certain animals. EPA banned registration and interstate sale of DDT for virtually all but emergency uses in the United States in 1972 because of its persistence in the environment ...

A real estate Power of Attorney grants legal authority to another party or agent to make financial decisions regarding the principal's real property, including purchase and sale.. . .

another term for the cargo or goods that a vessel transports. Any type of goods on any type of vessel may be considered merchandise. Maritime merchandise may also refer to nautical items that are for sale to the general public.

See also: Law, State, Person, Property, Will