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English definition of “sale and purchase agreement”

sale and purchase agreement

noun [C]
 
 
( abbreviation SPA) LAW
a legal agreement that a buyer will buy a product or service and a seller will sell it: They sued the contractor to recover the $50,000 they put down when they signed a sale and purchase agreement on their home.
(Definition of sale and purchase agreement from the Cambridge Business English Dictionary © Cambridge University Press)
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