executory contract of sale
- A contract, the terms and conditions of which must be performed before title passes. 46 Am J1st Sales § 412. A land contract under which the execution and delivery of a further instrument is necessary for the passing of title to the purchaser. 55 Am J1st V & P § 100. A contract which gives the purchaser an interest in the land involved as the subject matter of the contract. 29A Am J Rev ed Ins § 832.
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
executory contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. executory contract … 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
sale on condition — An executory contract of sale, otherwise mutual and binding, the duty to perform which is subject to the happening of an event, upon which, if it does happen, the duty to perform becomes binding on both parties. 46 Am J1st Sales § 38. See… … 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 — 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 by sample — A sale of goods under an executory contract in which the goods are unidentified other than by express or implied representation that they correspond to an exhibited sample. Anno: 12 ALR2d 528; 46 Am J1st Sales § 214. See warranty in sale by… … Ballentine's law dictionary
contract — contractee, n. contractible, adj. contractibility, contractibleness, n. contractibly, adv. n., adj., and usu. for v. 16 18, 22, 23 /kon trakt/; otherwise v. /keuhn trakt /, n. 1. an agreement between two or more parties for the doing or not doing … Universalium