contract of sale
The legally binding agreement between buyer and seller of a property, which includes the purchase price as well as the terms and conditions of the sale.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
contract
Noun: contract (a binding agreement between two or more persons that is enforceable by law)
Noun: contract, declaration ((contract bridge) the highest bid becomes the contract setting the number of tricks that the bidder must make)
Noun: contract, contract bridge (a variety of bridge in which the bidder receives points toward game only for the number of tricks he bid)
Verb: contract, undertake (enter into a contractual arrangement)
Verb: sign, contract, sign on, sign up (engage by written agreement) "They signed two new pitchers for the next season"
Verb: compress, constrict, squeeze, compact, contract, press (squeeze or press together) "she compressed her lips"; "the spasm contracted the muscle"
Verb: shrink, contract (become smaller or draw together) "The fabric shrank"; "The balloon shrank"
Verb: contract, take, get (be stricken by an illness, fall victim to an illness) "He got AIDS"; "She came down with pneumonia"; "She took a chill"
Verb: contract (make smaller) "The heat contracted the woollen garment"
Verb: condense, concentrate, contract (compress or concentrate) "Congress condensed the three-year plan into a six-month plan"
Verb: narrow, contract (make or become more narrow or restricted) "The selection was narrowed"; "The road narrowed"
Verb: abridge, foreshorten, abbreviate, shorten, cut, contract, reduce (reduce in scope while retaining essential elements) "The manuscript must be shortened"
sale
Noun: sale (the general activity of selling) "they tried to boost sales"; "laws limit the sale of handguns"
Noun: sale (a particular instance of selling) "he has just made his first sale"; "they had to complete the sale before the banks closed"
Noun: sale (the state of being purchasable; offered or exhibited for selling) "you'll find vitamin C for sale at most pharmacies"; "the new line of cars will soon be on sale"
Noun: sale, cut-rate sale, sales event (an occasion (usually brief) for buying at specially reduced prices) "they held a sale to reduce their inventory"; "I got some great bargains at their annual sale"
Noun: sale, sales agreement (an agreement (or contract) in which property is transferred from the seller (vendor) to the buyer (vendee) for a fixed price in money (paid or agreed to be paid by the buyer)) "the salesman faxed the sales agreement to his home office"
- contract of sale -
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