Purchase Agreement (Noun)
Meaning
A contract stating the terms of a purchase.
Classification
Nouns denoting communicative processes and contents.
Examples
- The buyer and seller signed a purchase agreement outlining the price and closing date of the property.
- The company's lawyer reviewed the purchase agreement carefully before advising the CEO to sign it.
- The purchase agreement included a contingency clause that allowed the buyer to back out if the inspection revealed major issues.
- The real estate agent helped the couple negotiate the terms of the purchase agreement with the seller.
- The purchase agreement specified that the seller would pay for any repairs needed to bring the property up to code.