executed contract of sale
- A present conveyance, that is a contract sufficient in itself to convey title to real estate. 55 Am J1st V & P § 100. A land contract which has been performed by both vendor and purchaser, the purchase price having been paid and the deed executed and delivered. Miller v Kemp, 157 Va 178, 160 SE 203, 84 ALR 980. A contract of sale of personal property so fully performed that nothing remains to be done under it, title having passed to the buyer and the risk of loss or destruction of the chattel having been shifted from the seller to him. 46 Am J1st Sales § 412.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
contract of sale — See contract to sell; executed contract of sale; executory contract of sale; land contract … Ballentine's law dictionary
contract to sell — A contract whereby the seller agrees to transfer the property in goods to the buyer for a consideration called the price. 46 Am J1st Sales § 2. See executed contract of sale; executory contract of sale; land contract; sale … Ballentine's law dictionary
contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… … Law dictionary
Contract — • The canonical and moralist doctrine on this subject is a development of that contained in the Roman civil law. In civil law, a contract is defined as the union of several persons in a coincident expression of will by which their legal relations … Catholic encyclopedia
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
Contract — law … Wikipedia
contract — a legally binding agreement between two or more parties. Glossary of Business Terms A legally enforceable agreement between two or more parties for performing, or refraining from performing, some specified act; e.g., delivering 5,000 bushels of… … Financial and business terms
Contract — A term of reference describing a unit of trading for a financial or commodity future. Also, the actual bilateral agreement between the buyer and seller of a transaction as defined by an exchange. The New York Times Financial Glossary * * * ▪ I.… … Financial and business terms
contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… … Black's law dictionary
sale of land — An actual transfer of title to the land from grantor to grantee by an appropriate instrument of conveyance executed for a consideration in money or the equivalent of money. Keogh v Peck, 316 Ill 318, 147 NE 266, 38 ALR 1151. An effective transfer … Ballentine's law dictionary