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Sale and return
Sale and returnWhen goods are sent from a manufacturer or wholesale dealer to a retail trader, in the hope that he may purchase them, with the understanding that what he may choose to take he shall have as on a contract of sale, and what he does not take he will retain as a consignee for the owner, the goods are said to have been sent on sale and return. RELATED TERMS-------------------------------------- When 1) At which time, in wills, standing by itself unqualified and unexplained, this is a word of condition denoting the time at which the gift is to continence. 2) The context of a will may show that the word when is to be applied to the possession only, not to the vesting of a legacy; but to justify this construction, there must be circumstances, or other expressions in the will, showing such to have been the testator's intent. Wholesale To sell by wholesale, is to sell by large parcels, generally in original packages, and not by retail Retail To sell by retail, is to sell by small parcels, and not in the gross. Trader One who makes it his business to buy merchandise or goods and chattels, and to sell the same for the purpose of making a profit. The quantum of dealing is immaterial, when an intention to deal generally exists. Purchase In its most enlarged and technical sense, purchase signifies the lawful acquisition of real estate by any means whatever, except descent. It is thus defined by Littleton, section 12. "Purchase is called the possession of lands or tenements that a man hath by his own deed or agreement, unto which possession he cometh, not by title of descent from any of his ancestors or cousins, but by his own deed." Take This is a technical expression which signifies to be entitled to; as, a devisee will take under the will. To take also signifies to seize, as to take and carry away. Contract A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract. Sale Contracts. An agreement by which one of the contracting parties, called the seller, gives a thing and passes the title to it, in exchange for a certain price in current money, to the other party, who is called the buyer or purchaser, who, on his part, agrees to pay such price. Will A will is a legal document in which a person directs how his property is to be distributed after his death. Such documents must be executed in due form and must be duly witnessed. Consignee The party to whom delivery of the goods is to be made under a contract for the carriage of goods by water. Owner Property. The owner is he who has dominion of a thing real or person-al, corporeal or incorporeal, which he has a right to enjoy and to do with as he pleases, even to spoil or destroy it, as far as the law permits, unless he be prevented by some agreement or covenant which restrains his right. Said Before mentioned. Return Contracts, remedies. Persons who are beyond the sea are exempted from the operation of the statute of limitations of Pennsylvania, and of other states, till after a certain time has elapsed after their returning. SIMILAR TERMS-------------------------------------- Sale Contracts. An agreement by which one of the contracting parties, called the seller, gives a thing and passes the title to it, in exchange for a certain price in current money, to the other party, who is called the buyer or purchaser, who, on his part, agrees to pay such price. Sale note A memorandum given by a broker to a seller or buyer of goods, stating the fact that certain goods have been sold by him on account of a person called the seller to another person called the buyer. Sale notes are also called bought notes, and sold notes. Sales comparison approach A set of procedures in which an appraiser derives a value indication by comparing the property being appraised to similar properties that have been sold recently, applying appropriate units of comparison, and making adjustments, based on the elements of comparison, to the sale prices of the comparables. PREVIOUS AND NEXT TERMS-------------------------------------- Saisie-gagerie French law. A conservatory act of execution, by which the owner, or principal lessor of a house or farm, causes the furniture of the house or farm leased, and on which he has a lien, to be seized, in order to obtain the rent due to him. It is similar to the distress of the common law. Saisie-immobiliere A writ by which the creditor puts in the custody of the law the immovables of his debtor, that out of the proceeds of their sale, he may be paid his demand. The term is French, and is used in Louisiana. Salami In banking, a fraud that involves taking all of the "round-down" fractional cents from periodic interest payments and crediting them to a single account. Thus each transaction has only a thin slice removed. Salary A reward or recompense for services performed. Sale Contracts. An agreement by which one of the contracting parties, called the seller, gives a thing and passes the title to it, in exchange for a certain price in current money, to the other party, who is called the buyer or purchaser, who, on his part, agrees to pay such price. Sale and return Sale note A memorandum given by a broker to a seller or buyer of goods, stating the fact that certain goods have been sold by him on account of a person called the seller to another person called the buyer. Sale notes are also called bought notes, and sold notes. Sales comparison approach A set of procedures in which an appraiser derives a value indication by comparing the property being appraised to similar properties that have been sold recently, applying appropriate units of comparison, and making adjustments, based on the elements of comparison, to the sale prices of the comparables. Salique law The name of a code of laws so called from the Salians, a people of Germany, who settled in Gaul under their king Phararaond. Salting cash Testing accounts receivable employee honesty by placing some cash in the customer receivables process to see if it is reported as cash or stolen. Salus populi, suprema lex The welfare of the people is the highest law. We thank you for using the Juridical Dictionary to search for Sale and return. If you have a better definition for Sale and return than the one presented here, please let us know by making use of the suggest a term option. This definition of Sale and return may be disputed by other professionals. Our attempt is to provide easy definitions on Sale and return and any other medical topic for the public at large.
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