Conditional Sale means a sale which is subject to fulfilment of conditions and made on a market declared by the Market Operator to be a conditional market.
Conditional Sale. ’ means a sales transaction made pursuant to a written agreement that is treated as a sale of goods for federal income tax purposes in which the buyer gains immediate pos- session or control of the goods but the seller or a financial institution retains title to or a security interest in the goods to ensure its future receipt of full payment before clear title is transferred to the buyer in possession or control of the goods. Conditional sale contracts include ‘‘financing leases.’’
Conditional Sale means (a) any contract for the sale of an aircraft, aircraft engine, propeller, appliance, or spare part under which possession is delivered to the buyer and the property is to vest in the buyer at a subsequent time, upon the payment of part or all of the price, or upon the performance of any other condition or the happening of any contingency; or (b) any contract for the bailment or leasing of an aircraft, aircraft engine, propeller, appliance, or spare part, by which the bailee or lessee contracts to pay as compensation a sum substantially equivalent to the value thereof, and by which it is agreed that the bailee or lessee is bound to become, or has the option of becoming,
Examples of Conditional Sale in a sentence
Hire Purchase (Conditional Sale) - The overall principles are identical to outright purchase, but payments against the capital cost are made monthly/quarterly to the Finance-House lender, to repay an amount of the capital cost and interest, which is normally quoted at a fixed, flat rate.
More Definitions of Conditional Sale
Conditional Sale means a sale which is conditional on fulfilment of a Condition and made on a Conditional Market.
Conditional Sale means (a) any contract for
Conditional Sale means (i) a contract for the sale of goods under which possession is to be delivered to a buyer and the property in the goods is to vest in him at a subsequent time on payment of the whole or part of the price or on the performance of any other condition, or (ii) a contract for the hiring of goods under which it is agreed that the hirer will become or have the option of becoming the owner of the goods on compliance with the terms of the contract.” Save for an important difference in (ii), the American Uniform Conditional Sales Act (1918), now superseded by the Uniform Commercial Code, adopted an almost identical definition. 11 11 1938 Act, s. 21 (1), as amended by the 1964 Act, s. 21 (1), Sched. 4.
Conditional Sale. ’ means a sales transaction made pursuant to a written agreement that is treated as a sale of goods for federal income tax purposes in which the buyer gains immediate pos-
Conditional Sale means an agreement between a Seller and a Buyer which contains a condition in favour of the Seller or the Buyer or both.
Conditional Sale means (a) any contract for the -sale of goods under which possession is delivered to the buyer and the property in the goods is to vest in him at a subsequent time upon payment of the whole or part of the price or the performance of any other condition; or (b) any contract for the hiring of goods by which the hirer contracts to pay as compensation a sum substantially equivalent to the value of the goods, and by which it is agreed that the hirer shall become, or have the option of becoming, the owner of the goods upon full compliance with the terms of the contract;