retain ownership

retain ownership
A device normally incorporated into a supply contract or terms and conditions of sale whereby ownership does not pass to the buyer until money owing is paid and the seller can recover goods from the buyer (or receiver or administrator) if those goods are not paid for or where the buyer commits an act of insolvency.

Easyform Glossary of Law Terms. — UK law terms.

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  • ownership — own‧er‧ship [ˈəʊnəʆɪp ǁ ˈoʊnər ] noun [uncountable] COMMERCE the state of owning something: • Car ownership by teenagers tripled during the decade. • Home ownership is more common in Britain than in Europe generally. • Limited partnerships give… …   Financial and business terms

  • retain — re‧tain [rɪˈteɪn] verb [transitive] 1. to keep something or to continue to have it: • A duplicate copy of the invoice will be retained for record purposes. • Following the merger, the family will retain a 1.9% stake in the company. 2 …   Financial and business terms

  • Ownership — Own redirects here. For other uses, see OWN (disambiguation). For ownership of articles in Wikipedia, see Wikipedia:Ownership of articles …   Wikipedia

  • ownership — noun ADJECTIVE ▪ full ▪ sole ▪ collective, common, fractional (AmE, law), joint, shared ▪ …   Collocations dictionary

  • retain — verb ADVERB ▪ nonetheless, still, yet ▪ no longer ▪ somehow ▪ Despite the decay the mosque somehow retained a profound grandeur. ▪ …   Collocations dictionary

  • Forms of ownership — A form of ownership is the manner in which * an undertaking or enterprise is managed and controlled; * capital is contributed; * risks are borne; * profits are divided; and * legal personality affects the business.ole… …   Wikipedia

  • Creator ownership — is an arrangement in which the creator or creators of a work of fiction retain full ownership of the material, regardless of whether it is self published or by a corporate publisher. In some fields of publishing, such as fiction writing, creator… …   Wikipedia

  • Home ownership in Australia — Home ownership is a key cultural icon in Australia. Australians have traditionally aspired to the modest Great Australian Dream of owning a detached house on a fenced block of land. Winter, Ian and Wendy Stone.… …   Wikipedia

  • Incidents Of Ownership — Any interests or rights that an individual maintains in an asset, including property and insurance, that allow the person to change, modify, use or benefit from that asset. This is important for determining estate taxes. An individual can reduce… …   Investment dictionary

  • incidents of ownership — Any control over property. If you give away property but keep an incident of ownership for example, you give away an apartment building but retain the right to receive rent then legally, no gift has been made. This distinction can be important if …   Law dictionary

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