conditional sale

noun

a sale in which the title of a property remains with the seller until some condition is met, as the payment of the full purchase price.

The term, conditional sale, has come to have a technical meaning.

The purpose of the seller in making a conditional sale is to retain security for the price which the buyer cannot pay all at once.

Why, it may be asked, does a buyer enter into a conditional sale, which is rather a poor bargain as far as he is concerned?

The consignment is like the conditional sale in this respect, that the person who has possession of the goods has not the title.

April 19, 2024tortuous

[tawr-choo-uhs ]

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