Sell Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Sell, written in plain English, along with examples of how it is used.
What is Sell?
(V) Sell is the action by which the ownership and possession of a property, article or goods or merchandise is given to another person in exchange for a consideration in money value.
History and Meaning of Sell
The term "sell" has been used for centuries and has its roots in the Old English word "sellan", which means to give or deliver something in exchange for payment. The act of selling has been a central part of commerce throughout history, whether through bartering or using currency as a medium of exchange. Today, selling goods or services is an essential part of any business, and it involves a range of legal and contractual obligations.
In a legal context, the act of selling typically involves transferring ownership and possession of a product or service to another party in exchange for payment. This process entails negotiating the terms of the sale, including the price and any warranties or guarantees. The seller must meet any legal requirements regarding the sale of the product or service, such as providing accurate information about the product's condition or complying with any regulations.
Examples of Sell
- John sells his laptop on an online marketplace for $500.
- The company sells its products to a distributor at a wholesale price.
- The store staff tries to sell additional products to customers at the checkout counter.
- The artist sells their artwork at a gallery exhibition for thousands of dollars.
- The homeowner sells their house to a buyer through a real estate agent.
Legal Terms Similar to Sell
- Purchase: The act of buying or acquiring a product or service.
- Trade: The exchange of goods or services between parties.
- Contract: A legally binding agreement between parties that outlines the terms of a sale or exchange.
- Transaction: An exchange of value between parties, including the buying and selling of goods and services.
- Transfer: The act of moving or conveying ownership of something from one party to another.