A standard sales contract obligates one party to purchase goods or services for a predetermined price established in the contract. Some sales contracts are ongoing and can include a buyout clause.

Breach of contract on sales of goods can only occur if the sale involves a legally binding purchase contract between a buyer and a seller. Purchase agreements can be absolute or conditional, meaning ...

Carol M. Kopp edits features on a wide range of subjects for Investopedia, including investing, personal finance, retirement planning, taxes, business management, and career development. Suzanne is a ...

In my last two columns, I have discussed the first two elements of a legally enforceable contract.First, the acceptance of a contract must exactly fit what was offered for there to be a deal.Next, ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...