New Jersey Agreement for Sale of Equipment
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Description
A sale of goods is a present transfer of title to movable property for a price. This price may be a payment of money, an exchange of other property, or the performance of services. The parties to a sale are the person who owns the goods and the person to whom the title is transferred. The transferor is the seller or vendor, and the transferee is the buyer or vendee. Under the Uniform Commercial Code, "goods" are defined as "all things that are movable when a security interest attaches" and are classified as consumer goods, equipment, farm products or inventory.
