conditional sale

conditional sale
A sale in which the vendee receives the possession and right of use of the goods or articles sold, but transfer of complete title to the vendee is made dependent upon the performance of some condition or the happening of sorne contingency, usually the full payment of the purchase price. 47 Am J1st Sales § 828. A chattel mortgage is, in effect, a conditional style of the mortgaged property. State Ins. Co. v Schreck, 27 Neb 527, 43 NW 340; Reinstein v Roberts, 34 Or 87, 55 P 90.

Ballentine's law dictionary. . 1998.

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  • Conditional sale — A conditional sale is a term used to describe a real estate transaction where the parties have set conditions. A standard real estate transaction usually begins when a prospective purchaser submits an offer to purchase to the vendor of a property …   Wikipedia

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  • conditional sale agreement — A conditional sale agreement is an agreement in which the ownership of the goods passes to the buyer once he has fulfilled certain conditions i.e. usually until he has paid all of the instalments. Easyform Glossary of Law Terms. UK law terms.… …   Law dictionary

  • conditional sale contract — A contract for the sale of goods by the terms of which the goods are to be delivered to the buyer, but the seller is to retain or reserve the right of possession or property in the goods until certain conditions specified in the contract have… …   Ballentine's law dictionary

  • conditional sale — noun 1. a security interest taken by the seller in return for credit • Hypernyms: ↑security interest 2. a sale in which the buyer receives title to the property only upon the performance of some condition (usually the full payment of the purchase …   Useful english dictionary

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