Conditional Sales Contract: A Condiitonal Sales Contract states that the Buyer or Seller can be relived of his/her duites concerning the contract, if the specified conditions are not met. Both the Buyer and Seller must sign for the document to be enforceable. This form is available in both Word and Rich Text formats.
Phoenix Arizona Conditional Sales Contract
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-GOODS-18
Format:
Word;
Rich Text
Instant download
Description
How to fill out Arizona Conditional Sales Contract?
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FAQ
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.
A contingent contract is a prototype of a conditional contract. Section 31 of the Act further solidifies its conditional nature by defining it as a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.
Keep in mind that in a contract of conditional sale, the buyer automatically acquires the title to the real estate property upon full payment of the purchase price. Meanwhile, in a contract to sell, the transfer of title to the prospective buyer is not done automatically.
1. It will be a Deed of Absolute Sale if full payment is made and there is immediate transfer of ownership. 2. It will be a Deed of Conditional Sale if payment will be made in installments or there is some condition before transfer of full ownership.
A conditional sale refers to a transaction in which the purchaser receives possession of and the right to use certain goods, but the title remains with the seller until the performance of a condition is met by the buyer.
(1) A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another. (2) A contract of sale may be absolute or conditional.
A conditional sales agreement is a contract that involves the sale of goods. Also known as a conditional sales contract, the seller allows the purchaser to take delivery of the items outlined in the contract and pay for them later.
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.
