Resale Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Resale, written in plain English, along with examples of how it is used.
What is Resale?
(n) Re-sale is the sale of an article, goods or merchandise which one has bought with an intention to sell it to another person
History and Meaning of Resale
The term resale refers to the act or process of selling a previously owned, used or second-hand product. This is a common practice in business transactions where the purchased goods are not intended for personal use, but rather for resale to another party. The resale market has grown tremendously in recent years, with many online marketplaces and stores dedicated to the buying and selling of used products.
Examples of Resale
A person buys a pair of shoes on clearance and then later resells them at a higher price on an online marketplace like eBay or Facebook Marketplace.
A thrift store purchases goods from a wholesaler and then resells them to customers at a higher price to fund their operations.
A car dealer purchases trade-ins from customers and then resells them to other customers.
Legal Terms Similar to Resale
Consignment - a similar concept to resale, where a person or store agrees to sell an item on behalf of someone else in exchange for a commission.
Distribution - the process of selling goods or products through a network of retailers or wholesalers, with the intent of reaching the end consumer.
Retail - the sale of products directly to the end consumer, often in a physical store or online.