Conditional Sales Agreement
- Conditional Sales Agreement
A lease agreement banks can offer to business customers that wish to finance purchases of new equipment. The business is able to take possession of the property as soon as the agreement is in force, but does not own the property until it has paid for it, which is usually done in installments. If the business defaults on its payments, the bank will take possession of the item.
Acquiring property through a conditional sales agreement may allow the business to deduct the interest expense and depreciate the item on the business' tax return. A conditional sales agreement may not require a down payment and may also have a flexible repayment schedule.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
conditional sales — absolute and conditional sales An absolute sale is one where the property in chattels passes to the buyer upon the completion of the bargain. A conditional sale is one in which the transfer of title is made to depend on the performance of a… … Black's law dictionary
sales agreement — noun an agreement (or contract) in which property is transferred from the seller (vendor) to the buyer (vendee) for a fixed price in money (paid or agreed to be paid by the buyer) the salesman faxed the sales agreement to his home office • Syn:… … Useful english dictionary
sales agreement or contract — A contract to sell goods. A contract by means of which the ownership of goods is transferred from a seller to a buyer for a fixed price in money, paid or agreed to be paid by the buyer. It may refer to a contract for sale which includes both a… … Black's law dictionary
absolute and conditional sales — An absolute sale is one where the property in chattels passes to the buyer upon the completion of the bargain. A conditional sale is one in which the transfer of title is made to depend on the performance of a condition, usually the payment of… … Black's law dictionary
conditional — I adjective alterable, changeable, conditioned, containing stipulations, contingent on, dependent on, depending on, depending on a future event, determined by, equivocal, granted on certain terms, hypothetical, imposing a condition, indefinite,… … Law dictionary
conditional sale — absolute and conditional sales An absolute sale is one where the property in chattels passes to the buyer upon the completion of the bargain. A conditional sale is one in which the transfer of title is made to depend on the performance of a… … Black's law dictionary
conditional sale — noun 1. a security interest taken by the seller in return for credit • Hypernyms: ↑security interest 2. a sale in which the buyer receives title to the property only upon the performance of some condition (usually the full payment of the purchase … Useful english dictionary
conditional sale contract — Form of sales contract in which seller reserves title until buyer pays for goods or land, at which time, the condition having been fulfilled, title passes to buyer. Such contract under Uniform Commercial Code is a purchase money security… … Black's law dictionary
conditional sale contract — Form of sales contract in which seller reserves title until buyer pays for goods or land, at which time, the condition having been fulfilled, title passes to buyer. Such contract under Uniform Commercial Code is a purchase money security… … Black's law dictionary
absolute sales — absolute and conditional sales An absolute sale is one where the property in chattels passes to the buyer upon the completion of the bargain. A conditional sale is one in which the transfer of title is made to depend on the performance of a… … Black's law dictionary
