sale

  

Definition

Contract involving transfer of the possession and ownership (title) of a good or property, or the entitlement to a service, in exchange for money or value. Essential elements that must be present in a valid sale are (1) competence of both the buyer and seller to enter into a contract, (2) mutual agreement on the terms of exchange, (3) a thing capable of being transferred, and (4) a consideration in money (or its equivalent) paid or promised. See also sales.

Use sale in a sentence

  • Mary listed her boat for sale because she no longer had time for fishing and because she could really use the money.

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  • The sale from Mr. Jones to Bob in sales was a huge purchase for our department which worked out wonderfully.

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  • When trying to make a sale you should always try and get the highest price you can from the person you are selling to.

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