Seller - Law Dictionary Search Results
casual
: employed for irregular periods [a worker] b : engaging in an activity on an occasional basis [a seller]
buyer in ordinary course of business
of business :a bona fide purchaser who in a normal or regular business procedure buys goods from a seller in the business of selling goods of that kind NOTE: Under the Uniform Commercial Code a buyer in
assure
assure as·sured as·sur·ing 1 chiefly Brit : insure 2 a : to inform positively [the seller assured the buyer of his honesty] b : to provide a guarantee of
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assumption clause
the terms of a loan that allows the buyer to take legal responsibility for the mortgage from the seller. Source: U.S. Department of Housing and Urban Development
assumable mortgage
assumable mortgage when a home is sold, the seller may be able to transfer the mortgage to the new buyer. This means the mortgage is assumable. Lenders
asking price
asking price a seller's stated price for a property. Source: U.S. Department of Housing and Urban Development
as is clause
condition without modification or repair NOTE: Under Uniform Commercial Code section 2-316, an as is clause releases the seller from responsibility for the quality of the item for sale.
accrue
with to or from [advantages accruing to society from the freedom of the press] [interest s to the seller as a result of the delay] 3 : to be periodically accumulated in the process of time whether
acceptance
acceptance the written approval of the buyer's offer by the seller. Source: U.S. Department of Housing and Urban Development
leaseback
leaseback : the sale of property with the understanding that the seller can lease it back from the new owner often used in the phrase sale and leaseback
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