Examlex
Suppose that you ask a stranger what time it is, and he produces several wordy sentences that don't seem to make sense. Without knowing additional information, you would suspect that he has
Purchase
The act of buying goods, services, or property in exchange for money or other consideration.
Sale
The passing of title (evidence of ownership rights) from a seller to a buyer for a price.
Enforceable Contract
A legally binding agreement that can be upheld and enforced in a court of law.
Oral Contract
A contract wherein terms are agreed upon through spoken communication, which can be legally binding if it meets certain criteria, despite the lack of physical documentation.
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