On Approval, Sale

Legal Definition and Related Resources of On Approval, Sale

Meaning of On Approval, Sale

A transaction of sale of goods where a seller takes a business risk in delivering goods to a buyer on the understanding that they are to remain the property of the seller until they are accepted by the purchaser on being satisfied of the appearance , quality or performance of the goods. §2-326 of U.C.C. provides that, unless otherwise agreed, where delivered goods may be returned by the buyer even though they conform to the contract , the transaction is a sale on approval if the goods are delivered primarily for use.

Related Entries of On Approval, Sale in the Encyclopedia of Law Project

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On Approval, Sale in Historical Law

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