Please tell us who you are and gain access to all our free resources.

Conditional Sales Contract

A contract for the sale of goods under which possession is delivered to the buyer but title retained by the seller, dependent upon due performance of conditions or repayment under terms of sale (terms and conditions governing conditional sales are statutory and the statutes of each state should be carefully reviewed before a conditional saleis made). In many areas, conditional sales contracts have been replaced by Security Agreements under the Commercial Code, having substantially the same definition.

    wpChatIcon