GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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07:21 Apr 1, 2003 |
French to English translations [PRO] Law/Patents | |||||||
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| Selected response from: Nikki Scott-Despaigne Local time: 02:03 | ||||||
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Executed sale Explanation: Re: Termium Definition: One which is final and complete in all its particulars and details, nothing remaining to be done by either party to effect an absolute transfer of the subject-matter of the sale. Source |
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finalized sale Explanation: another take |
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forward sale Explanation: Like in a forward dealing. Guessing of course, but the guess is based on the description given by the author. |
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bargain and sale Explanation: La vente est parfaite entre les parties dès qu'elles sont convenues de la chose et du prix quoique la chose n'ait pas encore été livré ni le prix payé - 'vente parfaite' is opposed to 'vente' simple, which is sale and delivery, and it is still binding in general (exceptions in case of goods sold in bulk which still have to be weighed or measured, and can be changed by 'novation' as in property transactions. |
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offer and acceptance Explanation: « Vente parfaite » Interesting to note that the definition in Termium suggests executed sale, whereas the GDT seems to remain one small step back in time in the process – everything is ready, but the sale has yet to be performed. Going back to my law degree days, a certain number of elements have to be present for an agreement to be legally binding upon the parties to it. Given the definitions cited, I would go for “offer and acceptance” as it appears to describe the process up to that stage. Everything is ready but it just needs to be executed. I certainly prefer this to “bargain and sale”, although I suspect that it boils down to the same thing. Consideration may yet need to be made over, for example. See the definition from the Oxford Dictionary of Law below : 1 - http://www.xrefer.com/entry.jsp?xrefid=464893&secid=.-&hh=1 A legally binding agreement. Agreement arises as a result of offer and acceptance, but a number of other requirements must be satisfied for an agreement to be legally binding. (1) There must be consideration (unless the contract is by deed). (2) The parties must have an intention to create legal relations. This requirement usually operates to prevent a purely domestic or social agreement from constituting a contract (see also honour clause). (3) The parties must have capacity to contract. (4) The agreement must comply with any formal legal requirements. In general, no particular formality is required for the creation of a valid contract. It may be oral, written, partly oral and partly written, or even implied from conduct. Certain transactions are, however, valid only if effected by deed (e.g. transfers of shares in British ships) or in writing (e.g. promissory notes, contracts for the sale of interests in land, and guarantees that can at law only be enforced if evidenced in writing). (5) The agreement must be legal (see illegal contract). (6) The agreement must not be rendered void either by some common-law or statutory rule or by some inherent defect, such as operative mistake (see void contract). Certain contracts, though valid, may be liable to be set aside by one of the parties on such grounds as misrepresentation or the exercise of undue influence (see voidable contract). Dictionary of Law, Oxford University Press © Market House Books Ltd 1997 2 - http://199.84.130.170/btml/fra/r_motclef/index800_1.asp Vente parfaite. Définition : Vente dans laquelle les parties contractantes sont d'accord sur le prix et sur la chose, c'est-à-dire sur la prestation que chacune des parties doit faire. 3 - http://europa.eu.int/eurodicautom/Controller “bargain and sale” where everything is ready for an immediate sale to go ahead. -------------------------------------------------- Note added at 2003-04-01 13:19:45 (GMT) -------------------------------------------------- It is important to note that in the case of sales required by law to be executed by deed, then no consideration is necessary. Reference: http://www.xrefer.com/entry.jsp?xrefid=464893&secid=.-&hh=1 |
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