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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.
Another form of security interest which flourished in the United States in the late 19th century and the first half of the 20th century was the conditional sale, the ancestor of what U.S. lawyers now call the purchase money security interest (PMSI). [30] It was popular in that era among creditors for two reasons. [30]
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.
A personal contract purchase is a conditional sale agreement, and under UK law the purchaser is protected under the Consumer Credit Act 1974 and the Financial Services Regulations 2004. [ 2 ] Included items
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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).
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