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LSDefine

Simple English definitions for legal terms

sale on approval

Read a random definition: subscribed stock

A quick definition of sale on approval:

Sale is when someone gives something to another person in exchange for money. It's like when you sell your old toys to your friend for some money. There are different types of sales, like when you buy something and pay for it right away, or when you buy something on credit and pay for it later. Sometimes, a sale can be cancelled if the buyer doesn't like what they bought. This is called a sale on approval. There are also sales where the seller keeps ownership until the buyer pays the full price, and sales where the buyer can return the item if they can't sell it.

A more thorough explanation:

Definition: A type of sale where the buyer has the right to approve the goods before completing the transaction. The seller retains ownership and risk of loss until the buyer approves the goods.

Example: John wants to buy a new laptop from a store. The store offers a sale on approval, so John can take the laptop home and use it for a few days. If he likes it, he can complete the purchase. If he doesn't like it, he can return it to the store, and the seller will take back ownership of the laptop.

Explanation: In this example, the sale is not complete until John approves the laptop. The seller retains ownership and risk of loss until John decides to keep the laptop. This type of sale is beneficial for buyers who want to test the product before committing to the purchase.

sale of land | sale on credit

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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