credit sale


credit sale
A sale in which the buyer is permitted to pay for the goods at a later time, as contrasted with a cash sale. Any sale with respect to which consumer credit is extended or arranged by the seller.
The term includes any contract in the form of a bailment or lease if the bailee or lessee contracts to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the property and services involved and it is agreed that the bailee or lessee will become, or for no other or for a nominal consideration has the option to become, the owner of the property upon full compliance with his obligations under the contract.

Black's law dictionary. . 1990.

Look at other dictionaries:

  • credit sale — The sale of goods, which immediately become the property of the customer, but where the price is payable by instalments. HM Customs & Revenue Glossary * * * credit sale credit sale ➔ sale * * * credit sale UK US noun [C] ► COMMERCE a sale of a… …   Financial and business terms

  • credit sale — A sale in which the buyer is permitted to pay for the goods at a later time, as contrasted with a cash sale. Any sale with respect to which consumer credit is extended or arranged by the seller. The term includes any contract in the form of a… …   Black's law dictionary

  • credit sale — A sale made on terms in which cash is to be paid at an agreed future date. As the debtors, who are customers to whom credit sales have been made, pay, the debtors control account balance will be reduced …   Accounting dictionary

  • credit sale — / kredɪt seɪl/ noun a sale where the purchaser will pay for the goods bought at a later date …   Marketing dictionary in english

  • credit sale agreement — See hire purchase …   Big dictionary of business and management

  • sale — n 1 a: the transfer of title to property from one party to another for a price; also: the contract of such a transaction see also short 1 2 compare barter, donation …   Law dictionary

  • credit sales — [plural] ► ACCOUNTING the sums of money that a company shows in its accounts for sales of products that buyers have agreed to pay for in the future: »At year end credit sales amounted to £1,300. Main Entry: ↑credit sale …   Financial and business terms

  • sale — An agreement between a buyer and a seller on the price to be paid for a security, followed by delivery. Bloomberg Financial Dictionary * * * sale sale [seɪl] noun 1. [countable, uncountable] COMMERCE the act of selling someone property, food, or… …   Financial and business terms

  • sale — A contract between two parties, called, respectively, the seller (or vendor) and the buyer (or purchaser), by which the former, in consideration of the payment or promise of payment of a certain price in money, transfers to the latter the title… …   Black's law dictionary

  • credit — n. & v. n. 1 (usu. of a person) a source of honour, pride, etc. (is a credit to the school). 2 the acknowledgement of merit (must give him credit for consistency). 3 a good reputation (his credit stands high). 4 a belief or trust (I place credit… …   Useful english dictionary