a conditional sales agreement is a financing arrangement where a buyer takes possession of an asset, but its title and right of repossession remain with the seller until the purchase price is paid in full. also known as a conditional sales contract, the seller allows the purchaser to take delivery of the items outlined in the contract and pay for them later. rightful ownership of the property belongs to the seller until the full price is paid by the buyer. a buyer and seller come together and begin the contract with a verbal agreement. acquiring property through a conditional sales agreement may allow a business to deduct the interest expense on its tax return. a conditional sales agreement may not require a down payment and may also have a flexible repayment schedule.
a conditional sales agreement also protects the seller if the buyer defaults on required payments. as mentioned above, conditional sales contracts are typically used by businesses to finance the purchase of machinery, office supplies, and furniture. in these contracts, the buyer can generally take possession of and use the property after both parties have signed and agreed on a closing date. the vehicle’s title and registration, however, remain in the name of the dealer, who has a right to take back the vehicle if conditions aren’t met. many people who rent to own items such as electronics and furniture are also involved in conditional sales agreements.
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this conditional purchase and sales agreement (the “agreement”) is entered into by and between lexmark internacional, s.a. de c.v., represented herein by a conditional sales agreement arises from the sale of goods. many organizations choose to purchase goods from retailers via a conditional sales agreement. define conditional sale agreement. means an agreement for the sale of goods under which the purchase price or part of it is payable by instalments,, conditional sale agreement land, types of conditional sale, deed of conditional sale in tagalog, conditional sale meaning in law, conditional sale vs hire purchase, conditional agreement sample, deed of conditional sale philippines, conditional sale agreement sample philippines, contract of sale, conditional contract.
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