Arvid purchased a television from Beula. Under the terms of that contract, Arvid was entitled to immediate possession, but he was not entitled to receive ownership until he paid the full price. The contract required him to pay the total price of $5000 in ten equal instalments of $500 each. The parties have created an arrangement known as a

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This arrangement is known as a conditional sales contract, where the buyer takes possession of the item but does not receive ownership until the full purchase price is paid.

Arvid Purchased a Television from Beula