Define: Actual Sale

Actual Sale
Actual Sale
What is the dictionary definition of Actual Sale?
Dictionary Definition of Actual Sale

Actual Sale:

Noun: A transaction in which a product or service is exchanged for a monetary payment, resulting in the transfer of ownership from the seller to the buyer. An actual sale is a completed and finalized transaction, where both parties have agreed upon the terms and conditions, and the buyer has made the payment in full. It signifies the successful completion of a business transaction, indicating that the product or service has been delivered or rendered to the buyer, and the seller has received the agreed-upon payment. An actual sale is legally binding and typically involves the issuance of a sales receipt or invoice as proof of purchase.

Full Definition Of Actual Sale

Actual sale refers to the transfer of ownership of a property or asset from the seller to the buyer, where the buyer pays the agreed-upon price and the seller delivers the property or asset. This type of sale is legally binding and enforceable, and both parties are obligated to fulfil their respective obligations under the sale agreement. Actual sale is an important concept in contract law and is often used in the context of real estate transactions, sales of goods, and other commercial transactions.

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This glossary post was last updated: 29th March 2024.

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