Retention of title: Difference between revisions
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''Law.'' | ''Law.'' | ||
A retention of title clause is a term in a contract of sale providing that ownership of the goods will not pass to the buyer until the buyer | A retention of title clause is a term in a contract of sale providing that ownership of the goods will not pass to the buyer until the buyer fulfils certain obligations, usually payment of the purchase price. | ||
Also known as a Romalpa clause after the name of the legal case in which the validity of such clauses was first established in law in the UK. | Also known as a ''reservation of title'' clause. | ||
Also known as a ''Romalpa'' clause after the name of the legal case in which the validity of such clauses was first established in law in the UK. | |||
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* [[Retention]] | * [[Retention]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Compliance_and_audit]] | [[Category:Compliance_and_audit]] | ||
Latest revision as of 20:39, 3 September 2018
Law.
A retention of title clause is a term in a contract of sale providing that ownership of the goods will not pass to the buyer until the buyer fulfils certain obligations, usually payment of the purchase price.
Also known as a reservation of title clause.
Also known as a Romalpa clause after the name of the legal case in which the validity of such clauses was first established in law in the UK.
