Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

present sale

Read a random definition: Copyright Act of 1976

A quick definition of present sale:

A present sale is when someone sells something to another person for a price. It's like when you buy a toy from a store and pay for it. There are four things that need to happen for a sale to be complete: both people can make a deal, they both agree to it, the thing being sold can be transferred, and the buyer pays the seller. There are different types of sales, like a sale where the buyer can return the thing they bought, or a sale where the seller keeps ownership until the buyer pays the full price.

A more thorough explanation:

A present sale is a transfer of property or title for a price. It is an agreement between two parties where one party sells a thing to the other party for a price in money paid or promised. The four elements of a present sale are parties competent to contract, mutual assent, a thing capable of being transferred, and a price in money paid or promised.

Examples of present sales include:

  • A person buying a car from a dealership and paying the agreed-upon price in cash.
  • A company selling its products to a customer and receiving payment through a wire transfer.
  • A homeowner selling their house to a buyer and receiving payment through a bank check.

These examples illustrate how a present sale involves the transfer of ownership of a thing for a price. In each case, the parties involved have agreed to the terms of the sale and have exchanged the thing being sold for the agreed-upon price.

presents | present use

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
LSD+ is ad-free, with DMs, discounts, case briefs & more.