Blacks Law Dict. 1st ed

SALE ON APPROVAL

1059

SALABIDM

Synonyms. The contract of "sale" is distinguished from "barter" (which applies only to goods) and "exchange," (which is used of both land and goods,) in that both the latter terms denote a commutation of property for property; i. e., the price or con sideration is always paid in money if the transaction is a sale, but, if it is a barter or exchange, it is paid in specific property sus ceptible of valuation. "Sale" differs from "gift" in that the latter transaction involves no return or recompense for the thing trans ferred. But an onerous gift sometimes ap proaches the nature of a sale, at least where the charge it imposes is a payment of money. "Sale" is also to be discriminated from "bail ment;" and the difference is to be found in the fact that the contract of bailment always contemplates the return to the bailor of the specific article delivered, either in its original form or in a modified or altered form, or the return of an article which, though not iden tical, is of the same class, and is equivalent But sale never involves the return of the ar ticle itself, but only a consideration in money. This contract differs also from " accord and satisfaction;" because in the latter the ob ject of transferring the property is to com promise and settle a claim, while the object of a sale is the price given. SALE AND RETURN. This is a spe cies of contract by which the seller (usually a manufacturer or wholesaler) delivers a quan tity of goods to the buyer, on the understand ing that, if the latter should desire to retain or use or resell any portion of such goods, he will consider such part as having been sold to him, and will pay their price, and the balance he will return to the seller, or hold them, as bailee, subject to his order. SALE IN GROSS. The term "sale in gross," when applied to the thing sold, means a sale by the tract, without regard to quan tity, and is in that sense a contract of haz ard. 77 Ya. 616. SALE-NOTE. A memorandum of the subject and terms of a sale, given by a broker or factor to the seller, who bailed him the goods for that purpose, and to the buyer, who dealt with him. Also called "bought and sold notes." SALE ON CREDIT. A sale of prop erty accompanied by delivery of possession, but where payment of the price is deferred to a future day. SALE ON APPROVAL. A species of conditional sale, which is to become absolute

Philip Augustus of France, against Saladin, sultan of Egypt, then going to besiege Jeru salem. By this tax every person who did not enter himself a crusader was obliged to pay & tenth of his yearly revenue and of the value of all his movables, except his wearing ap parel, books, and arms. The Carthusians, Bernardines, and some other religious per sons were exempt. Gibbon remarks that when the necessity for this tax no longer ex isted, the church still clung to it as too lucra tive to be abandoned, and thus arose the tithing of ecclesiastical benefices for the pope or other sovereigns. Enc. Lond. SALARITJM. Lat. In the civil law. An allowance of provisions. A stipend, wages, or compensation for service. An annual al lowance or compensation. Calvin. SALARY. A recompense or considera tion made to a person for his pains and in dustry in another person's business; also wages, stipend, or annual allowance. Co well. An annual compensation for services ren dered; a fixed sum to be paid by the year for services. "Salary" signifies the periodical compensation to men in official and some other situations. The word is derived from "salarium," which is from the word "sal, " salt, that being an article in which the Roman soldiers were paid. 10 Ind. 83. SALE. A contract between two parties, called, respectively, the "seller" (or vendor) and the "buyer," (or purchaser,) by which the former, in consideration of the payment or promise of payment of a certain price in money, transfers to the latter the title and the possession of an object of property. See Pard. Droit Commer. § 6; 2 Kent, Conim. 363; Poth. Cont. Sale, § 1. Sale is a contract by which, for a pecuniary consideration called a "price," one transfers to another an interest in property. Civil Code Cal. § 1721. Thecontiact of sale is an agreement by which one gives a thing for a price in cur rent money, and the other gives the price in order to have the thing itself. Three cir cumstances concur to the perfection of the contract, to-wit, the thing sold, the price, and the consent. Civil Code La. art. 2439. A transmutation of property from one man to another in consideration of some price or recom pense in value. 2 Bl. Comm. 446 "Sale" is a word of precise legal import, both at law and in equity. It means, at all times, a contract between parties to give and to pass rights of property for money, which the buyer pays or promises to pay to the seller for the thing bought and sold. 8 How. 495, 544; (Or.) 26 Pac. Rep. 565.

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