goods
What are goods?
movable, tangible, personal items
What is sales contract?
Contract in which ownership of goods transfers from seller to buyer for a price.
What is barter?
Exchange of goods for goods?
What is retention of title?
When the seller remains owner of the goods until he or receives the payment.
What is payment?
Exchange of money for goods.
What is receipt of goods?
The buyer taking physical possession of goods.
What is seller?
A person who has something for sale or one of the parties of a contractual agreement.
What is a vendor?
A name for a seller.
What is price?
The value of the goods in monetary form.
What is delivery?
Listed in the contract. The location at which goods are delivered and title is tranferfed from the owner to the buyer.
What are goods according to the contract?
Goods that specifically fulfill the sellers obligation under contract.
what is merchant?
A seller who deals regularly in a specified type of goods.
What is accommodation in a sales contract?
An arrangement and or favor to the buyer after notification by the seller.
What is bill of sale?
Receipt that serves as written evidence of the transfer of ownership of goods.
What are shipping documents?
Delivery note, bill of lading
What is a small amount invoice?
An invoice under $400.
What is an invoice?
A bill or receipt.
What is contract to sell?
Transaction in which transfer of ownership is to take place in the future.
What is ownership?
The rights that allow a buyer the use and enjoyment of property.
What is inspection?
checking the quality of goods, at the time of acceptance. spot checking or individual