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The treaty creates international standards for registration of contracts of sale (including dedicated registration agencies), security interests , leases and conditional sales contracts, and various legal remedies for default in financing agreements, including repossession and the effect of particular states' bankruptcy laws.
A conditional sale is a real estate transaction where the parties have set conditions. [1] [2] A standard real estate transaction usually begins when a prospective purchaser submits an offer to purchase to the vendor of a property. As in a standard offer, a conditional offer sets out the terms of the sale such as the purchase price, the date of ...
The conditional bill of sale refers to any assignment or transfer of personal chattels to a person by way of security for the payment of money. The conditional bill of sale creates a security in favour of the grantee of the bill whereby the grantee is given personal right of seizure giving right to a security interest of a possessory nature.
Tying (informally, product tying) is the practice of selling one product or service as a mandatory addition to the purchase of a different product or service.In legal terms, a tying sale makes the sale of one good (the tying good) to the de facto customer (or de jure customer) conditional on the purchase of a second distinctive good (the tied good).
The South African law of sale is an area of the legal system in that country that describes rules applicable to a contract of sale (or, to be more specific, purchase and sale, or emptio venditio), generally described as a contract whereby one person agrees to deliver to another the free possession of a thing in return for a price in money.
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The federal minimum has held at $7.25 an hour since 2009, but an increasing number of states are upping their base pay for workers.
The provisions are very similar to those for sale of goods agreements, with the section on exclusion clauses identical. [11] Under the 1893 Act, conditional sale agreements (where the buyer takes possession of the goods, but the seller retains the right to repossess them) were treated as hire-purchase agreements, despite being fundamentally sales.