ratified sales contract

ratified sales contract definition - business

ratified sales contract

A legally binding and enforceable agreement that has been agreed to by both the buyer and seller. Used primarily in real estate, the contract specifies the price, proposed closing and occupancy dates, type of mortgage financing sought by the buyer, and any contingencies.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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