What is Sale?
A transaction between two or more parties in which tangible or intangible goods, services, or assets in exchange for money is called sales.
A sale is a transaction between two or more parties in which tangible or intangible goods, services, or assets are exchanged for money. In some cases, a seller is compensated with assets other than cash.
In the financial markets, it can also be refer to an agreement between a buyer and seller regarding a financial security, its price, and specific delivery arrangements.
In any case, it is essentially a contract between a seller of a specific good or service and a buyer willing to pay for that good or service.
When a seller of goods or services transfers ownership and title to a buyer in exchange for a specific amount of money or other specified assets, this is referred to as a sale. To complete a sale, both the buyer and the seller must agree on the transaction’s specific terms. These terms can include the selling price, the quantity of the good, the method of delivery, and the time of delivery.
Importantly, the offered good or service must be available for exchange. The seller must be legally empowered to transfer the item or service to the buyer.