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Sale

Legal Definition and Related Resources of Sale

Meaning of Sale

The transmutation or transfer of the property in a personal chattel from one person to another for a consideration paid or agreed to be paid. state v Mitchell, 156 N.C. 659, 72 S.E. 632. Also, Stephens v Gifford, 137 Pa. 219, 20 A. 542. The term is ordinarily understood to mean a transfer of property for money which the buyer pays or promises to pay for the thing bought and sold. Williamson v Berry, (U.S.) 8 How. 495, 12 L.Ed. 1170. under §1 of the uniform Sales Act, the term is defined as an agreement whereby the seller transfers the property and goods to the buyer for a consideration called the price . The U. C. C. § 2-106 defines the term as consisting in the passing of title from the seller to the buyer for a price.

Sale Alternative Definition

An agreement hy which one of two 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, on his part, agrees to pay such price. Pardessus, Dr. Com. note 6; Noy, Max. c. 42; Shep. Touch. 244; 2 Kent, Comm. 363; Poth. Vente, note 1. A transfer of the absolute or general property in a thing for a price in money. Benj. Sales, S 1. This contract differs from a barter or exchange in this, that in the latter the price or consideration, instead of being paid in money, is paid in goods or merchandise susceptible of a valuation. 3 Salk. 157; 12 N. H. 390; 10 Vt. 457. It differs from “accord and satisfaction,” because in that contract the thing is given for the purpose of quieting a claim, and not for a price. An onerous gift, when the burden it imposes is the payment of a sum of money, is, when accepted, in the nature of a sale. When partition is made between two or more joint owners of a chattel, it would seem the contract is in the nature of a barter. See 11 Pick. (Mass.) 311,
(1) An absolute sale is one made and completed without any condition whatever,
(2) A conditional’ sale is one which depends for its validity upon the fulfillment of some condition. See 4 Wash. C. C. (U. S.) 588; 10 Pick. (Mass.) 522; 18 Johns. (N. Y.) 141; 8 Vt. 154; 2 Rawle (Pa.) 326; Coxe (N. J.) 292; 2 A- K. Marsh. (Ky.) 430.
(3) A forced sale is one made without the consent of the owner of the property, by some officer appointed by law, as by a marshal or a sheriff, in obedience to the mandate of a competent tribunal. This sale has the effect to transfer all the rights the owner had in the property, but it does not, like a voluntary sale of personal property, guaranty a title to the thing sold; it merely transfers the rights of the person as whose property it has been seized. This kind of a sale is sometimes called a “judicial sale.”
(4) A private sale is one made voluntarily, and not by auction.
(5) A public sale is one made at auction to the highest bidder. Auction sales sometimes are voluntary, as, when the owner I chooses to sell his goods in this way, and then as between the seller and the buyer the usual rules relating to sales apply; or they are involuntary or forced, when the same rules do not apply.
(6) A voluntary sale is one made freely without constraint by the owner of the thing sold. This is the common case of sales, and to this class the general rules of the law of sale apply.

Related Entries of Sale in the Encyclopedia of Law Project

Browse or run a search for Sale in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Sale in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Sale in Historical Law in the Encyclopedia of Law.

Legal Abbreviations and Acronyms

Search for legal acronyms and/or abbreviations containing Sale in the Legal Abbreviations and Acronyms Dictionary.

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Sale in the Dictionary Sale in our legal dictionaries
Browse the Legal Thesaurus Find synonyms and related words of Sale
Legal Maxims Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law
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Related topics Sale in the World Encyclopedia of Law

Notice

This definition of Sale is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

Vocabularies (Semantic Web Information)

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Topic Map A group of names, occurrences and associations
Topic Tree A topic display format, showing the hierarchy
Sitemap Index Sitemap Index, including Taxonomies
https://legaldictionary.lawin.org/sale/ The URI of Sale (more about URIs)

Sale in Law Enforcement

Main Entry: Law Enforcement in the Legal Dictionary. This section provides, in the context of Law Enforcement, a partial definition of sale.

Grammar

This term is a noun.

Etimology of Sale

(You may find sale at the world legal encyclopedia and the etimology of more terms).

late Old English sala “a sale, act of selling,” from a Scandinavian source such as Old Norse sala “sale,” from Proto-Germanic *salo (source also of Old High German sala, Swedish salu, Danish salg), from PIE root *sal- (3) “to grasp, take.” Sense of “a selling of shop goods at lower prices than usual” first appeared 1866. Sales tax attested by 1886. Sales associate by 1946. Sales representative is from 1910.

Resources

See Also

  • Law Enforcement Officer
  • Police
  • Law Enforcement Agency

Further Reading

Sale Definition (in the Accounting Vocabulary)

The New York State Society of Certified Public Accountants offers the following definition of Sale in a way that is easy for anybody to understand: Any exchange of goods or services for money.

Sale

Hierarchical Display of Sale

Trade > Marketing > Commercial transaction
Business And Competition > Competition > Restrictive trade practice > Horizontal agreement
Trade > Marketing > Marketing > After-sales service
Business And Competition > Competition > Restriction on competition > Refusal to sell
Trade > Distributive trades > Distributive trades
Business And Competition > Competition > Restrictive trade practice > Vertical agreement
Finance > Prices > Market prices > Selling price
Business And Competition > Competition > Restrictive trade practice > Vertical agreement > Tied sales outlet

Meaning of Sale

Overview and more information about Sale

For a more comprehensive understanding of Sale, see in the general part of the online platform.[rtbs name=”xxx-xxx”]

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Translation of Sale

Thesaurus of Sale

Trade > Marketing > Commercial transaction > Sale
Business And Competition > Competition > Restrictive trade practice > Horizontal agreement > Sale
Trade > Marketing > Marketing > After-sales service > Sale
Business And Competition > Competition > Restriction on competition > Refusal to sell > Sale
Trade > Distributive trades > Distributive trades > Sale
Business And Competition > Competition > Restrictive trade practice > Vertical agreement > Sale
Finance > Prices > Market prices > Selling price > Sale
Business And Competition > Competition > Restrictive trade practice > Vertical agreement > Tied sales outlet > Sale

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