Retention of title: Difference between revisions
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imported>Doug Williamson (Amend reference to law in the UK.) |
imported>Doug Williamson (First line made more open (fulfills certain obligations) source: https://www.insolvencydirect.bis.gov.uk/casehelpmanual/R/RetentionOfTitle.htm) |
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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 fulfills 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 Romalpa clause after the name of the legal case in which the validity of such clauses was first established in law in the UK. | ||
Revision as of 15:44, 30 March 2016
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 fulfills 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.
