Definition of “sale and purchase agreement” - English Dictionary

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“sale and purchase agreement” in Business English

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sale and purchase agreementnoun [ C ]

uk us 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)