Duhaime's Law Dictionary


Sale Definition:

The exchange of goods or services for consideration.

Related Terms: Money, Venditio, Vendor, Transfer

At ¶286 of CCH Canadian, Justice Rothstein of the Federal Court of Appeal (Canada) adopted these words:

"The existence of a sale is not predicated on the earning of a profit....

"In general terms, the key elements of a sale are the transfer of property on the one hand and the payment of some form of consideration on the other.

"[S]ale is defined as the transfer of property or title for a price (or) the agreement by which such a transfer takes place.

"The four elements are parties competent to contract, mutual assent, a thing capable of being transferred, and a price in money paid or promised."

However, Justice Rothein's proposed definition appears to be in error in one regard: the transfer of money is not an essential component of all sales.1

In Magner, Justice Shahood of the District Court of Appeal of Florida adopts these words:

"A sale is a transfer of goods for consideration, and the seller is generally the party that receives the consideration and effects the transfer."

Note the words of Justice Bryson in Corus Staal:

"An agreement to sell is a binding commitment that has not yet been consummated by the exchange of goods for consideration, i.e., the sale itself. [A] sale requires both a transfer of ownership to an unrelated party and consideration."

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