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LSDefine

Simple English definitions for legal terms

memorandum sale

Read a random definition: nichil

A quick definition of memorandum sale:

A memorandum sale is when someone agrees to buy something, but they don't officially own it until they approve of it. It's like trying on clothes before you buy them. The buyer can take the item home and use it, but they can still change their mind and give it back if they don't like it.

A more thorough explanation:

Definition: A memorandum sale is a conditional sale in which the buyer takes possession of the property but does not accept title until approving the property. It is a type of sale where the buyer has the right to approve the property before accepting the title.

Example: John wants to buy a car from a dealership. The dealership allows John to take the car for a test drive and use it for a few days. If John likes the car, he can accept the title and complete the purchase. If John does not like the car, he can return it to the dealership without accepting the title. This is an example of a memorandum sale.

Explanation: In a memorandum sale, the buyer has the right to approve the property before accepting the title. This means that the buyer can take possession of the property and use it for a certain period of time before deciding whether to accept the title or not. The example of John buying a car from a dealership illustrates this concept. John can take the car for a test drive and use it for a few days before deciding whether to accept the title or not.

memorandum opinion | memorial

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[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
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