Agreement of Purchase and Sale

noun (plural: Agreements of Purchase and Sale)

A written contract by which a seller sells a property to a buyer.

An Agreement of Purchase and Salecannotbe made verbally. By law, itmustbe made in writing, must be legible, and must be signed by all parties.

In addition to the price, an Agreement of Purchase and Sale typically contains a number of other terms and conditions that govern the details of the sale.

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