Sales Contract Vocabulary

Immediate transfer of ownership of goods from a seller to a buyer for a price is known as?

• Goods

• Bill of Sale

• Casual Seller

• Sale

consideration for a sale or a contract to sell is known as?

• Price

• Payment

• Ownership

• Goods

an exchange of goods or services is known as?

• Bill of Sale

• Barter

• Persuade

• Sale

tangible, movable personal property is known as?

• Ownership

• Delivery

• Vendor

• Goods

label for a seller who claims special knowledge in a certain type of sales transaction is known as?

• Casual Seller

• Merchant

• Vendee

• Ownership

receipt showing evidence of a transfer of ownership is known as?

• Delivery

• Bill of Sale

• Payment

• Receipt of Goods

seller who does not meet the definition of a merchant is known as?

• Vendor

• Vendee

• Casual Seller

• Merchant

occurs when the buyer transfers the agreed-upon consideration and the seller accepts it?

• Delivery

• Payment

• Bill of Sale

• Receipt of Goods

collection of rights that allow the use and enjoyment of property is known as?

• Ownership

• Goods

• Contract to Sale

• Receipt of Goods

purchaser is known as a?

• Merchant

• Vendor

• Vendee

• Bartering Buddy