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Earnest

Earnest [fr. eornest, Sax.], the sum paid by the buyer of goods in order to bind the seller to the terms of the agreement. It is enacted by the 4th s. of the Sale of Goods

reserve

premiums have been paid 4 : reserve price with reserve : with a reserve price and with a seller reserving the right to reject all bids NOTE: A sale at auction is with reserve if there is

accept

2-606(1) of the Uniform Commercial Code, a buyer accepts goods if: 1) he or she indicates to the seller after a reasonable opportunity to inspect them that he or she will keep them; 2) he or she

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Coal

only by the (English) Weights and Measures Act, 1889 (52 & 53 Vict. c. 21), s. 20. The seller delivers a weight ticket for the whole quantity sold, Kyle v. Dunsdon, (1908) 2 KB 293. The weighing

disclosures

final sale, especially if it represents defects or problems. "Full disclosure" usually refers to the responsibility of the seller to voluntarily provide all known information about the property. Some disclosures may be required by law, such as

liability

his or her own negligence, default, or legal undertaking prod·ucts liability : liability imposed on a manufacturer or seller for a defective and unreasonably dangerous product ;specif : strict liability for a defective product that does not

reciprocal dealing

of antitrust laws in which a party with greater economic power agrees to buy a product from a seller if the seller buys something in return

buy down

buy down the seller pays an amount to the lender so the lender provides a lower rate and lower payments many times

Auctioneers

by public auction. An auctioneer is deemed the agent of both parties; he can bind virtue officii the seller and the purchaser of royalty by his memorandum of the sale under s. 40 of the (English) Law

short

: not having goods or property that one has sold in anticipation of a fall in prices [a seller who was at the time of the sale] b : consisting of or relating to a sale of

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