held for sale

held for sale
Property in the possession of an agent authorized to sell it. Merchandise or stock of goods in place of business. A clause describing the subject matter of a dealers' collision insurance policy, so that the protection of the dealer's automobile continues until the sale thereof, whether absolute or conditional, has been completed, by transfer of title if absolute, or of possession if conditional. 7 Am J2d Auto Ins § 73.

Ballentine's law dictionary. . 1998.

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