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Simple English definitions for legal terms
cash sale
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A quick definition of cash sale:
A cash sale is when someone buys something and pays for it with money right away. It's like when you go to the store and buy a toy with the money you have in your pocket. The seller gives you the toy and you give them the money. It's a simple and quick way to buy things.A more thorough explanation:
Definition: A cash sale is a type of sale where the buyer pays for the goods or services with cash at the time of purchase. It is a transfer of property or title for a price, where the price is paid in cash.
Example: If you go to a store and buy a shirt for $20 and pay for it with cash, it is a cash sale.
This example illustrates the definition of a cash sale because the buyer pays for the shirt with cash at the time of purchase, and the seller transfers the property or title of the shirt to the buyer in exchange for the cash payment.