Conditional sale agreement

Conditional sale agreement,

Definition of Conditional sale agreement:

  1. Arrangement where a buyer takes possession of an item, but its title and right of repossession remains with the seller until the buyer pays the full purchase price (usually in installments stretched over months or years). Common type of agreement used in the financing of machinery and equipment, and real estate. Also called conditional sale contract.

Meaning of Conditional sale agreement & Conditional sale agreement Definition