sale n
1 a: the transfer of title to property from one party to another for a price; also: the contract of such a transaction see also short 1 2 compare barter, donation, exchange, gift
absolute sale: a sale that takes place without conditions and with title simply passing to the buyer upon payment of the price compare conditional sale in this entry
bulk sale: a sale not in the ordinary course of the seller's business of more than half of the seller's inventory – called also bulk transfer;
◇ Article 6 of the Uniform Commercial Code governs bulk sales. Under section 6-102(c), in order for a sale to be considered a bulk sale, the buyer (or an auctioneer or liquidator if the sale is an auction) must have been given notice or been able upon reasonable inquiry to have had notice that the seller will not afterward continue to operate the same or a similar kind of business.
cash sale: a sale in which payment must be made in cash
◇ Under U.C.C. section 2-310, payment must be made in cash at the time and place that the buyer receives the goods unless there is a prior agreement between the parties for a sale on credit.
conditional sale: a sale that is complete only when one or more conditions are met; specif: a sale in which the seller extends credit to the buyer to purchase the item and takes a security interest in the item with the buyer receiving title when the debt has been fully paid off compare absolute sale in this entry
execution sale: a sale carried out to execute a judgment under authority of a judicial officer (as a court clerk) but not by court order
forced sale: a sale of property ordered by a court in order to satisfy a creditor's judgment against a debtor
foreclosure sale: a sale of property upon default of a mortgage to satisfy the debt
judicial sale: a sale of property conducted by an authorized official by order of a court: forced sale in this entry
private sale: an often unadvertised sale of property that is not open to the general public and does not take place at a set time or place
public sale: a sale (as an auction) that is publicly advertised and that takes place at a location open to the public
sale in gross: a sale of a tract of land that is not made with a guarantee as to the exact amount of land involved; also: the sale of an undivided property (as in execution of a judgment)
sale on ap·prov·al: a conditional sale whose completion depends on acceptance of the goods by a buyer (as a consumer) receiving them primarily for use with the option to return them if they do not meet his or her approval even though they conform to contract
sale or return: a conditional sale whose completion depends on acceptance of the goods by a buyer (as a merchant) receiving them primarily for resale with the option to return them if they are not resold even though they conform to contract
sheriff's sale: a forced sale of property by a sheriff or deputy sheriff
tax sale: a forced sale of property resulting from nonpayment of taxes by the owner compare tax lien at lien
b: a contract for selling or disposing of a security or an interest in a security for value see also short 1 2b, wash sale
2: the transfer of a controlled substance to another person for money or other consideration
3: a selling of goods at lower than usual prices
4 pl
a: operations and activities involved in promoting and selling goods and services
vice-president of sale s
b: gross receipts
c: income calculated under the accrual basis of accounting

Merriam-Webster’s Dictionary of Law. . 1996.

I noun disposal, exchange, trade, transaction, transfer, vendition associated concepts: sales and exchange, sale and return, sale at auction, sale by commercial broker, sale by sample, sale confirmed, sale for payment, sale of debt, sale of office, sale on credit, sale on return, sale on trial II index conveyance, disposition (transfer of property), trade (commerce), transaction

Burton's Legal Thesaurus. . 2006

The act of exchanging a commodity for money; a contract between a buyer and a seller in which the seller transfers property to the buyer in exchange for money or the promise of money.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

a transaction involving the transfer of property from one person to another for a consideration. In the case of goods, a money consideration called the price. If money is not exchanged then the contract may be one of barter. In the UK a common code (with some important differences reflect the civilian origin of the Scottish legal system) exists for goods in the Sale of Goods Act 1979. The original Act of 1893 became something of a model for many Commonwealth jurisdictions. Sale of heritage or real property rules are different because of the general attitude of respect for landed property rights. Both in England and in Scotland, the buyer of land must satisfy himself that the property meets his expectations in regard to quality, title and description. See cif, description, fas , f.o.b., nemo dat quod non habet, quality, risk, sample, specific goods, stoppage in transit, title, unpaid seller.

Collins dictionary of law. . 2001.

The transfer of ownership (title) to property in return for money (or another thing of value) on terms agreed upon between buyer and seller.
Category: Business, LLCs & Corporations
Category: Personal Finance & Retirement

Nolo’s Plain-English Law Dictionary. . 2009.

n. A transfer of property or title thereto in exchange for a sum of money; the agreement or contract by which such a transfer takes place. A sale requires a free offer in exchange for a freely agreed-upon purchase price between two individuals who are competent to contract with each other, and who have mutually agreed to the deal. An actual exchange or promised exchange of money is required. Finally, the object, parcel, or title being sold must be capable of being transferred by the seller.
@ conditional sale
A sale subject to certain events occurring, for example, a transaction to sell one's home, conditioned upon the sale by buyer of his own home. Also known as contingent sale.
@ contingent sale
A sale subject to certain events occurring, for example, a transaction to sell one's home, conditioned upon the sale by buyer of his own home. Also known as conditional sale.
@ sheriff's sale
A forced sale of property for which full payment has not been made; proceeds of such sale are remitted to the creditor in full or partial satisfaction of the debt.
@ tax sale
A forced sale of assets of a taxpayer to satisfy tax obligations that have not been paid.

Webster's New World Law Dictionary. . 2000.

   transfer of something (and title to it) in return for money (or other thing of value) on terms agreed upon between buyer and seller. The price paid may be based on a posted cost, established by negotiation between seller and buyer, or by auction with potential buyers bidding until the highest bid is accepted by the seller or his agent (auctioneer).

Law dictionary. . 2013.

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