Meaning of “private treaty” in the English Dictionary

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"private treaty" in Business English

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private treatynoun [ C or U ]

uk us

LAW, PROPERTY a legal agreement in which something, especially land or property, is sold directly to the person who wants to buy it:

The site will be sold by private treaty at a fixed price or by offers over a minimum sale figure.

(Definition of “private treaty” from the Cambridge Business English Dictionary © Cambridge University Press)