Purchase - Law Dictionary Search Results
consumer credit
consumer credit : credit extended by merchants or banks to finance the purchase of consumer goods (as home appliances) or services (as travel or hotel accommodations) compare consumer debt at debt
closing
us at the ] NOTE: At the closing for the completion of the sale of real property, the purchase price is paid and title is transferred to the purchaser or mortgagor.
down payment
down payment the portion of a home's purchase price that is paid in cash and is not part of the mortgage loan. This amount varies based
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cash
2 : money or its equivalent (as a check) paid for goods or services at the time of purchase or delivery cash against documents : a sight draft in exchange for a bill of lading [agree that
buyer in ordinary course of business
buyer in ordinary course of business :a bona fide purchaser who in a normal or regular business procedure buys goods from a seller in the business of selling
binder
money paid to the owner of real estate or to the owner's agent to secure the right to purchase the real estate upon agreed terms ;also : the money itself
bargain
something acquired by or as if by bargaining b : something whose value considerably exceeds its cost [a purchase] vi 1 a : to negotiate over the terms of an agreement (as a contract) b : to
back to back escrow
back to back escrow arrangements that an owner makes to oversee the sale of one property and the purchase of another at the same time. Source: U.S. Department of Housing and Urban Development
as-is condition
as-is condition the purchase or sale of a property in its existing condition without repairs. Source: U.S. Department of Housing and Urban
deposit
b : something given as security see also security deposit NOTE: A deposit may be applied to a purchase price or may be considered partial payment. 3 in the civil law of Louisiana a : the gratuitous
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