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Conditional Sale for Dummies

noun

pronunciation: kən'dɪʃənəl_seɪl

What does Conditional Sale really mean?

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Hey there! I hope you're doing well today. Today, we're going to dive into the meaning of the term "Conditional Sale." Now, I know it might sound a bit complicated, but don't worry, I'm here to break it down for you in the simplest way possible.

Imagine you have your favorite toy car, and your friend really wants to play with it. However, you only want to let them play with it if they promise to give it back to you later. That's kind of how a conditional sale works.

A conditional sale is a type of agreement between two parties where one person sells something, like a car or any kind of goods, to another person, but with certain conditions attached. These conditions specify that the ownership of the item being sold will only transfer to the buyer once they meet certain requirements or pay off the full amount of money owed.

Let me give you another example to make it clearer. Let's say you're really into skateboarding, and you come across a sweet skateboard at the store. But here's the catch: you don't have enough money to buy it upfront. However, the store owner offers you a conditional sale agreement. This means that you can take the skateboard home and start using it right away, but you have to make regular payments over a specified period until you've cleared the entire amount.

So, in summary, a conditional sale is when ownership of an item is transferred to the buyer under the condition that they either meet specific requirements or make regular payments until the full amount is paid off. It's like letting your friend play with your toy car only if they promise to give it back or getting to use a skateboard immediately but paying for it in installments.

Now that we've gone through it together, I hope you have a better understanding of what a conditional sale means. Remember, it's just a fancy way of saying that you can buy something on the condition that you meet certain requirements or pay in installments. If you have any more questions or need further explanation, feel free to ask! I'm here to help.


Revised and Fact checked by Sophia Moore on 2023-10-28 06:42:53

Conditional Sale In a sentece

Learn how to use Conditional Sale inside a sentece

  • When you buy a car but you don't have enough money right now, so the seller lets you pay for it little by little over time.
  • If you want to buy a bicycle but you don't have all the money yet, the store might allow you to take it home and pay for it later in installments.
  • Let's say you want to purchase a new video game console, but you can't afford to pay for it all at once, so the game store offers you a plan where you can pay it off monthly.
  • Imagine you need a new laptop for school but you can't afford to pay for it upfront, so the computer shop lets you take it home and pay for it through a monthly payment agreement.
  • Suppose you want to buy a fancy dress for a special occasion, but you can't pay for it immediately, so the boutique shop allows you to pay for it step by step over a certain period of time.

Conditional Sale Hypernyms

Words that are more generic than the original word.

sale sales agreement security interest