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LSDefine

Simple English definitions for legal terms

sale and return

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A quick definition of sale and return:

Sale is when someone gives something to another person in exchange for money. It requires four things: two people who can make a deal, an agreement between them, something that can be sold, and money. There are different types of sales, like a cash sale where the buyer pays right away, or a sale on approval where the buyer can return the item if they don't like it. Sometimes sales can be tricky, like a simulated sale where no one actually intends to transfer ownership, or a short sale where the seller doesn't even own the thing they're selling.

A more thorough explanation:

Sale and return is a type of sale where the buyer can return the goods to the seller, even if they conform to the contract, if the goods were delivered primarily for resale. This transaction is a type of consignment in which the seller (usually a distributor) sells goods to the buyer (often a retailer), who then tries to resell the goods, but a buyer who cannot resell is allowed to return them to the seller. Title and risk of loss are with the buyer until the goods are returned.

Example: A distributor sells 1000 units of a product to a retailer on a sale and return basis. The retailer is only able to sell 800 units and returns the remaining 200 units to the distributor. The distributor takes back the 200 units and refunds the retailer for the cost of those units.

This example illustrates how sale and return works in a business-to-business transaction. The distributor takes on the risk that the retailer may not be able to sell all the units, but the retailer is not stuck with unsold inventory.

sale and exchange | sale note

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
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.
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