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Conditional Sale Agreement
A sales contract in which the buyer gains possession of the item, but its title and right of repossession remain with the seller until all payments are made.
Title
A formal right of ownership of property, which signifies the owner's legal possession and control.
Final Payment
The last payment in a series that settles a debt or completes a purchase agreement.
Purchaser
The individual or entity that buys goods or services, also known as a buyer.
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