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LSDefine

Simple English definitions for legal terms

Resale

Read a random definition: concessum

A quick definition of Resale:

Resale: Resale means selling something that was bought before. For example, a person who buys things from a store and then sells them to others for a profit is called a reseller. If the buyer breaks the agreement, the seller can sell the item to someone else to make up for the loss. Resale can happen in many different situations, like selling a house or stocks. When you sell something for more than you bought it, you may have to pay taxes on the profit you made.

A more thorough explanation:

Resale refers to the act of selling property that has been previously purchased. This can happen in many different contexts, such as in commercial transactions, real estate, or investments.

In commercial transactions, a reseller will typically purchase goods from a manufacturer or wholesaler with the intention of reselling them for a profit. If the buyer breaches the resale contract, the seller may have the right to resell the goods to another buyer as a remedy.

For example, a clothing store may purchase a large quantity of shirts from a manufacturer at a wholesale price, and then resell them to customers at a higher retail price. If the store is unable to sell all of the shirts, they may choose to resell them to another retailer or return them to the manufacturer.

In real estate, resale refers to the sale of a property that has already been owned by someone else. For example, if a homeowner decides to sell their house, they are engaging in a resale transaction.

Investors may also engage in resale transactions when buying and selling securities or other assets. For example, if an investor purchases shares of a stock and then sells them at a higher price, they have made a profit on the resale of the shares.

It is important to note that gains from the resale of property may be considered taxable income under the Internal Revenue Code.

Res nova | Resale Price Maintenance Agreements

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Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] 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
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