A conditional sales contract:
A) passes title to the goods sold to the buyer at the time the contract is signed.
B) normally calls for one lump sum payment on the contract payment date.
C) allows the seller to retain ownership of the goods sold until the customer has fully paid for the purchase.
D) is payable immediately upon receipt.
E) is a formal bid for a project.

Question

Quizplus · Accepted Answer

A conditional sales contract allows the seller to retain ownership of the goods sold until the customer has fully paid for the purchase. This means that the buyer does not receive title to the goods until they have paid in full.

A Conditional Sales Contract