agreement of sale


agreement of sale
An agreement of sale may imply not merely an obligation to sell, but an obligation on the part of the other party to purchase, while an agreement to sell is simply an obligation on the part of the vendor or promisor to complete his promise of sale. Treat v. White, 181 U.S. 264, 21 S.Ct. 611, 45 L.Ed. 853.
It is a contract to be performed in future, and, if fulfilled, results in a sale; it is preliminary to sale and is not the actual sale

Black's law dictionary. . 1990.

Look at other dictionaries:

  • agreement of sale — UK US noun [C] COMMERCE ► PURCHASE AGREEMENT(Cf. ↑purchase agreement) …   Financial and business terms

  • agreement of sale — A completed sale as distinguished from an agreement to sell …   Ballentine's law dictionary

  • agreement of sale — /əˌgri:mənt əv seɪl/ noun a written contract that sets out in detail the terms agreed between the buyer and the seller when a property is sold …   Marketing dictionary in english

  • agreement of sale — Gen Mgt a written contract specifying the terms under which the buyer agrees to buy particular real estate and the seller agrees to sell it …   The ultimate business dictionary

  • agreement — a‧gree‧ment [əˈgriːmənt] noun [countable] 1. an arrangement or promise to do something, made by two or more people or organizations: • Under the agreement, the company will distribute our products in North America. • What happens if the warring… …   Financial and business terms

  • agreement — agree·ment n 1 a: the act or fact of agreeing by mutual agreement b: unity of opinion, understanding, or intent; esp: the mutual assent of contracting parties to the same terms if they reach agreement ◇ Under common law, agreement is a necessary… …   Law dictionary

  • sale — An agreement between a buyer and a seller on the price to be paid for a security, followed by delivery. Bloomberg Financial Dictionary * * * sale sale [seɪl] noun 1. [countable, uncountable] COMMERCE the act of selling someone property, food, or… …   Financial and business terms

  • agreement to sell — cf. agreement of sale An agreement of sale may imply not merely an obligation to sell, but an obligation on the part of the other party to purchase, while an agreement to sell is simply an obligation on the part of the vendor or promisor to… …   Black's law dictionary

  • sale — A contract between two parties, called, respectively, the seller (or vendor) and the buyer (or purchaser), by which the former, in consideration of the payment or promise of payment of a certain price in money, transfers to the latter the title… …   Black's law dictionary

  • agreement to sell — An executory contract, as distinguished from a completed sale under an agreement of sale. Keogh v Peck, 316 Ill 318, 147 NE 266, 38 ALR 115 …   Ballentine's law dictionary


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