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Conditional Sale AgreementDate: Be it known that (Buyer) agrees to purchase from: (Seller) the following described items: (Describe or attach) Sales price$ Sales tax$ Finance charge$ Insurance$ Other.

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A conditional sales contract can be defined as a contract that provides use and control to a buyer wit:1 the seller retaining title as security for payment. The buyer or lessee is the beneficial owner of the property.

A conditional sales agreement is a financing arrangement where a buyer takes possession of an asset, but its title and right of repossession remain with the seller until the purchase price is paid in full.

A conditional contract is enforceable as long as the party subject to the condition does not have a complete control over whether the condition is fulfilled.

For the seller, a conditional contract does not bring security of a sale and they will be unable to sell to other prospective buyers. There is a more significant risk where the issues are beyond the seller's control or relate to the buyer's use of the property post-completion.

Conditional Contract: Specifically a conditional contract binds the buyer to purchase the property if and when the condition(s) contained in the sales contract are met.

The Conditional Sale Agreement If you buy equipment on an installment plan, for example, it's yours only if you meet the condition of making all the payments. The buyer gets the equipment sooner than if they paid full price; the seller has security because they can repossess the equipment.

The Contract's Performance Must Be Conditional: The event for which the contract was made must occur in the future and should be unpredictable. If the contract's performance is dependent on a future occurrence that is assured to occur, it is not termed as a contingent contract.

In summary, conditional contracts can come in different forms, such as executory, option and contingent contracts. These contracts are only binding if certain conditions are met before or after the contract is signed, and they are often used in insurance and real estate transactions.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232