Sale of Goods
/ˈseɪl əv ɡʊdz/
Definitions
- (n.) A contract whereby the seller transfers or agrees to transfer ownership of goods to the buyer for a price.
The sale of goods was finalized after both parties signed the agreement.
Related terms
See also
Commentary
The term specifically refers to the legal framework governing transactions involving tangible movable items; legal instruments often distinguish this from the sale of services or real property.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.