Contract of sale
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The examples and perspective in this article may not represent a worldwide view of the subject. (July 2011) |
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This article does not cite any references or sources. (December 2009) |
| Contract law |
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| Part of the common law series |
| Contract formation |
| Defenses against formation |
| Contract interpretation |
| Excuses for non-performance |
| Rights of third parties |
| Breach of contract |
| Remedies |
| Quasi-contractual obligations |
| Related areas of law |
| Other common law areas |
A contract of sale is a legal contract an exchange of goods, services or property to be exchanged from seller (or vendor) to buyer (or purchaser) for an agreed upon value in money (or money equivalent) paid or the promise to pay same. It is a specific type of legal contract.
An obvious ancient practice of exchange, in many common-law jurisdictions it is now governed by statutory law. See commercial law.
Contracts for sale involving goods are governed by Article 2 of the Uniform Commercial Code in most United States and Canadian jurisdictions, however in Quebec such contracts are governed by the Civil Code of Quebec as a nominate contract in the book on the law of obligations.
