An 'Agreement of Sale' is a legal contract between a buyer and a seller in which the seller agrees to sell, and the buyer agrees to buy, specific goods under predetermined terms and conditions. This agreement outlines the price, delivery terms, payment methods, and other essential provisions necessary for the transfer of goods ownership.
An Option to Purchase is a contract that grants one the right (but not the obligation) to buy a property within a set timeframe, for a specified price, and subject to certain conditions.
A Purchase Contract, also known as a Contract of Sale or Purchase Agreement, is a legal document that outlines the terms and conditions under which a buyer agrees to purchase, and a seller agrees to sell, a particular property, item, or service.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.