Sale

5 definitions found

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  Sale \Sale\, n. [Icel. sala, sal, akin to E. sell. See {Sell},
     v. t.]
     1. The act of selling; the transfer of property, or a
        contract to transfer the ownership of property, from one
        person to another for a valuable consideration, or for a
        price in money.


        [1913 Webster]
  
     2. Opportunity of selling; demand; market.
        [1913 Webster]
  
              They shall have ready sale for them.  --Spenser.
        [1913 Webster]
  
     3. Public disposal to the highest bidder, or exposure of
        goods in market; auction. --Sir W. Temple.
        [1913 Webster]
  
     {Bill of sale}. See under {Bill}.
  
     {Of sale}, {On sale}, {For sale}, to be bought or sold;
        offered to purchasers; in the market.
  
     {To set to sale}, to offer for sale; to put up for purchase;
        to make merchandise of. [Obs.] --Milton.
        [1913 Webster] Saleable

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  Sale \Sale\, n.
     See 1st {Sallow}. [Obs.] --Spenser.
     [1913 Webster]

From WordNet (r) 2.0 [wn]:

  sale
       n 1: the general activity of selling; "they tried to boost
            sales"; "laws limit the sale of handguns"
       2: a particular instance of selling; "he has just made his
          first sale"; "they had to complete the sale before the
          banks closed"
       3: 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"
       4: 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" [syn: {cut-rate
          sale}, {sales event}]
       5: 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" [syn: {sales agreement}]

From Moby Thesaurus II by Grady Ward, 1.0 [moby-thes]:

  62 Moby Thesaurus words for "sale":
     abalienation, alienation, amortization, amortizement, assignation,
     assignment, available, bargain and sale, barter, bazaar,
     bequeathal, buying, cession, closing-out sale, conferment,
     conferral, consignation, consignment, conveyance, conveyancing,
     deeding, deliverance, delivery, demise, disposal, disposition,
     distress sale, enfeoffment, exchange, flea market, garage sale,
     giving, going-out-of-business sale, in stock,
     inventory-clearance sale, lease and release, marked down,
     marketing, on the block, on the market, purchase, purchasing,
     rummage sale, selling, settlement, settling, surrender, tax sale,
     trade, trading, traffic, trafficking, transaction, transfer,
     transference, transmission, transmittal, up for sale, vending,
     vesting, white elephant sale, yard sale
  
  

From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  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. Pard. Dr. 
  Com. n. 6; Noy's Max. ch. 42; Shep. Touch. 244; 2 Kent, Com. 363; Poth. 
  Vente, n. 1; 1 Duverg. Dr. Civ. Fr. n. 7. 
       2. This contract differs from a barter or exchange in this, that in the 
  latter the price or consideration, instead of being paid in money, is paid 
  in goods or merchandise, susceptible of a valuation. It differs from accord 
  and satisfaction, because in that contract, the thing is given for the 
  purpose of quieting a claim, and not for a price. An onerous gift, when the 
  burden it imposes is the payment of a sum of money, is, when accepted, in 
  the nature of a sale. When partition is made between two or more joint 
  owners of a chattel, it would seem, the contract is in the nature of a 
  barter. See 11 Pick. 311. 
       3. To constitute a valid sale there must be, 1. Proper parties. 2. A 
  thing which is the object of the contract. 3. A price agreed upon; and, 4. 
  The consent of the contracting parties, and the performance of certain acts 
  required to complete the contract. These will be separately considered. 
       4.-Sec. 1. As a general rule all persons sui juris may be either buyers 
  or sellers. But to this rule there are several exceptions. 1. There is a 
  class of persons who are incapable of purchasing except sub modo, as 
  infants, and married women; and, 2. Another class, who, in consequence of 
  their peculiar relation with regard to the owner of the thing sold, are 
  totally incapable of becoming purchasers, while that relation exists; these 
  are trustees, guardians, assignees of insolvents, and generally all persons 
  who, by their connexion with the owner, or by being employed concerning his 
  affairs, have acquired, a knowledge of his property, as attorneys, 
  conveyancers, and the like. See Purchaser. 
       5.-Sec. 2. There must be a thing which is the object of the sale, for 
  if the thing sold at the time of the sale had ceased to exist it is clear 
  there can be no sale; if, for example, Paul sell his horse to Peter, and, at 
  the time of the sale the horse be dead, though the fact was unknown to both 
  parties: or, if you and I being in Philadelphia, I sell you my house in 
  Cincinnati, and, at the time of the sale it be burned down, it is manifest 
  there was no sale, as there was not a thing to be sold. It is evident, too, 
  that no sale can be made of things not in commerce, as the air, the water of 
  the sea, and the like. When there has been a mistake made as to the article 
  sold, there is no sale; as, for example, where a broker, who is the agent of 
  both parties, sells an article and delivers to the seller a sold note 
  describing the article sold as "St. Petersburg clean hemp," and bought note 
  to, the buyer, as "Riga Rhine hemp," there is no sale. 5 Taunt. 786, 788; 5 
  B. & C. 437; 7 East, 569 2 Camp. 337; 4 Ad. & Ell. N. S. 747 9 M. &, W. 805. 
  Holt. N. P. Cas. 173; 1 M. & P. 778. 
       6. There must be an agreement as to the specific goods which form the 
  basis of the contract of sale; in other words, to make a perfect sale, the 
  parties must have agreed the one to part with the title to a specific 
  article, and the other to acquire such title; an agreement to sell one 
  hundred bushels of wheat, to be measured out of a heap, does not change the 
  property, until the wheat has been measured. 3 John. 179; Blackb. on Sales, 
  122, 5 Taunt. 176; 7 Ham. (part 2d) 127; 3 N. Ramp. R.282; 6 Pick. 280; 15 
  John. 349; 6 Cowen, 250 7 Cowen, 85; 6 Watts, 29. 
       7.-Sec. 3. To constitute a sale there must be a price agreed upon; but 
  upon the maxim id certum est quod reddi certum potest, a sale may be valid 
  although it is agreed that the rice for the thing sold shall be determined 
  by a third person. 4 Pick. 179. The price must have the three following 
  qualities, to wit: 1. It must be an actual or serious price. 2. It must be 
  certain or capable of being rendered certain. 3. It must consist of a sum of 
  money. 
       8.-1. The price must be an actual or serious price, with an intention 
  on the part of the seller, to require its payment; if, therefore, one should 
  sell a thing to another, and, by the same agreement, he should release the 
  buyer from the payment, this would not be a sale but a gift, because in that 
  case the buyer never agreed to pay any price, the same agreement by which 
  the title to the thing is passed to him discharging him from all obligations 
  to pay for it. As to the quantum of the price that is altogether immaterial, 
  unless there has been fraud in the transaction. 2. The price must be certain 
  or determined, but it is sufficiently certain, if, as before observed, it be 
  left to the determination of a third person. 4 Pick. 179; Poth. Vente, n. 
  24. And an agreement to pay for goods what they are worth, is sufficiently 
  certain. Coxe, 261; Poth. Vente, n. 26. 3. The price must consist in a sum 
  of money which the buyer agrees to pay to the seller, for if paid for in any 
  other way, the contract would be an exchange or barter, and not a sale, as 
  before observed. 
       9.-Sec. 4. The consent of the contracting parties, which is of the 
  essence of a sale, consists in the agreement of the will of the seller to 
  sell a certain thing to the buyer, for a certain price, and in the will of 
  the buyer, to purchase the same thing for the same, price. Care must be 
  taken to distinguish between an agreement to enter into a future contract, 
  and a present actual agreement to make a sale. This consent may be shown, 1. 
  By an express agreement. 2. By all implied agreement. 
      10.-1. The consent is certain when the parties expressly declare it. 
  This, in some cases, it is requisite should be in writing. By the 17th 
  section of the English statute, 29 Car. II. c. 3, commonly called the 
  Statute of Frauds, it is enacted, "that no contract for the sale of any 
  goods, wares, or merchandise, for the price of œ10 or upwards, shall be 
  allowed to be good, except the buyer shall accept part of the goods so sold, 
  and actually receive the same, or give something in earnest to bind the 
  bargain, or in part payment, or some note or memorandum in writing of the 
  said bargain be made and signed by the parties to be charged by such 
  contract or their agents thereunto lawfully authorized." This statute has 
  been reenacted in most of the states of the Union, with amendments and 
  alterations, 
      11. It not unfrequently happens that the consent of the parties to a 
  contract of sale is given in the course of a correspondence. To make such 
  contract valid, both parties must concur in it at the same time. See Letter, 
  com. law, crim. law, Sec. 2; 4 Wheat. 225; 6 Wend. 103; 1 Pick. 278 10 Pick. 
  326. 
      12. An express consent to a sale may be given verbally, when it is not 
  required by the statute of frauds to be in writing. 
      13.-2. When a party, by his acts, approves of what has been done, as if 
  he knowingly uses goods which have been left at his house by another who 
  intended to sell them, he will, by that act, confirm the sale. 
      14. The consent must relate, 1. To the thing which is the object of the 
  contract; 2. To the price; and, 3. To the sale itself. 1st. Both parties 
  must agree upon the same object of the sale; if therefore one give consent 
  to buy one thing, and the other to sell another, there is no sale; nor is 
  there a sale if one sells me a bag full of oats, which I understand is full 
  of wheat; because there is no consent as to the thing which is the object of 
  the sale. But the sale would be valid, although I might be mistaken as to 
  the quality of the tiling sold. 20 John. 196 3 Rawle, 23, 168. 2d. Both 
  parties must agree as to the same price, for if the seller intends to sell 
  for a greater sum than the buyer intends to give, there is no mutual 
  consent; but if the case were reversed, and the seller intended to sell for 
  a less price than the buyer intended to give, the sale would be good for the 
  lesser sum. Poth. Vente, n. 36. 3d. The consent must be on the sale itself, 
  that is, one intends to sell, and the other to buy. If, therefore, Peter 
  intended to lease his house for three hundred dollars a year for ten years, 
  and Paul intended to buy it for three thousand dollars, there would not be a 
  contract of sale nor a lease. Poth. Vente, n. 37. 
      15. In order to pass the property by a sale, there must be an express or 
  implied agreement that the title shall pass. An agreement for the sale of 
  goods is prima facie a bargain and sale of those goods; but this arises 
  merely from the presumed intention of the parties, and if it appear that the 
  parties have agreed, not that there shall be a mutual credit by which the 
  property is to pass from the seller to the buyer, and the buyer is bound to 
  pay the price to the seller, but that the exchange of the money for the 
  goods shall be made on the. spot, no property is transferred, for it is not 
  the intention of the parties to transfer any. 4 Wash. C. C. R. 79. But, on 
  the contrary, when the making of part payment, or naming a day for payment, 
  clearly shows an intention in the parties that they should have some time to 
  complete the sale by payment and delivery, and that they should in the 
  meantime be trustees for each other, the one of the property in the chattel, 
  and the other in the price. As a general rule, when a bargain is made for 
  the purchase of goods, and nothing is said about payment and. delivery, the 
  property passes immediately, so as to cast upon the purchaser all future 
  risk, if nothing remains to be done to the goods, although he cannot take 
  them away without paying the price. 5 B. & C. 862. 
      16. Sales are absolute or conditional. An absolute sale is one made and 
  completed without any condition whatever. A conditional sale is one which 
  depends for its validity upon the fulfillment of some condition. See 4 Wash. 
  C. C. R. 588; 4 Mass. 405; 17 Mass. 606; 10 Pick. 522; 13 John. 219; 18 
  John. 141; 8 Vern. 154; 2 Hall 561; 2 Rawle, 326; Coxe, 292; 1 Bailey 563; 2 
  A.K. Marsh. 430. 
      17. Sales are also voluntary or forced, public or private. 
      18.-1. A voluntary sale is one made without constraint freely by the 
  owner of the thing sold; to such the usual rules relating to sales apply. 2. 
  A forced sale is one made without the consent of the owner of the property 
  by some officer appointed by law, as by a marshal or a sheriff in obedience 
  to the mandate of a competent tribunal. This sale has the effect to transfer 
  all the rights the owner had in the property, but it does not, like a 
  voluntary sale of personal property, guaranty a title to the thing sold it 
  merely transfers the rights of the person as whose property it has been 
  seized. This kind of a sale is sometimes called a judicial sale. 3. A public 
  sale is one made at auction to the highest bidder. Auction sales sometimes 
  are voluntary, as when the owner chooses to sell his goods in this way, and 
  then as between the seller and the buyer the usual rules relating to sales 
  apply; or they are involuntary or forced when the same rules do not apply. 
  4. Private sales are those made voluntarily and not at auction. 
    19. The above rules apply to sales of personal property. The sale of real 
  estate is governed by other rules. When a contract has been entered into for 
  the sale of lands, the legal estate in such lands still remains vested in 
  the vendor, and it does not become vested in the vendee until he shall have 
  received a lawful deed of conveyance from the vendor to him; and the only 
  remedy of the purchaser at law, is to bring an action on the contract, and 
  recover pecuniary damages for a breach of the contract. In equity, however, 
  after a contract for the sale, the lands are considered as belonging to the 
  purchaser, and the court will enforce his rights by a decree for a specific 
  performance; and the seller will be entitled to the purchase money. Will. on 
  Real Prop. 127. See Specific performance. 
      20. In general, the seller of real estate does not guaranty the title; 
  and if it be desired that he should, this must be done by inserting a 
  warranty to that effect. See, generally, Brown on Sales; Blackb. on Sales; 
  Long on Sales; Story on Sales, Sugd. on Vendors; Pothier, Vente; Duvergier, 
  Vente; Civil Code of Louisiana, tit. 7; Bouv. Inst. Index, h.t.; and 
  Contracts; Delivery; Purchaser; Seller; Stoppage in transitu.