APPENDIX “A”

SUBJECT:BSSLAW2 SECTION:AAF DATE DUE:FEB 02,2021

SARMIENTO JEFFERSON 20191083@s.ubaguio.edu

TOPIC: THE LAW ON SALES

# WORD MEANING
1 Amendment An amendment is a change or an addition
to the terms of a contract, a law, or a
government regulatory filing. Any such
document can be amended with the consent
of the parties involved
Various other amendments have been
proposed from time to time, but have
been defeated at the polls.
2 Bailment Bailment is a legal relationship
in common law, where the owner transfers
physical possession of personal
property for a time, but retains
ownership. The owner giving up custody
is the "bailor" and person who takes is
"bailee”. The bailee holds the personal
property in trust for a specific purpose
and delivers the property back to the
bailor when the purpose is accomplished.
A bailment may occur when there is an
agreement for someone to transport or
keep a chattel.
3 Bailor A bailor is an individual who
temporarily relinquishes possession but
not ownership of a good or other
property under a bailment agreement. ...
A bailment is a contractual agreement
between the bailor and the bailee that
specifies the terms and purpose of such
a change in possession.
The bailor is not responsible generally
for any negligence of the hirer in
operating the car. And if workmen had
been employed thereon, the bailor would
also be obligated to pay for their
 labor.
4 Bailee A bailee is an individual who
temporarily gains possession, but not
ownership, of a good or other property.
The bailee, who is also called a
custodian, is entrusted with the
possession of the good or property by
another individual known as the bailor.
One can conceive of cases in which goods
would be exposed to war damage through
the negligence of the bailee.
5 Consignment Consignment is an arrangement in which
goods are left in the possession of an
authorized third party to sell.
Typically, the consignor receives a
percentage of the revenue from the sale
(sometimes a very large percentage) in
the form of commission.
A potential consignment was purportedly
held back in the hope of a higher price.
6 Fungible Sometimes called "fungibles," they are
goods which are interchangeable, often
sold or delivered in bulk, since any
load is as good as another. Grain or
gravel are fungibles, as are securities
which are identical.
The vast majority of members make no
use of the collateral held, although
this could change once money market
instruments become fungible.
7 Genuine As applied to notes, bonds, and other
written instruments, this term means
that they are truly what they purport to
be, and that they are not false, forged,
fictitious, simulated, spurious, or
counterfeit.
Legal documents that are genuine are
very much need for contract signing.
8 Impair to damage or make worse by or as if by
 diminishing and to to diminish the value
of (property or property rights)

9 Implementati Implementation is the carrying out,

on execution, or practice of a plan, a
method, or any design, idea, model,
specification, standard or policy for
doing something. As
such, implementation is the action that
must follow any preliminary thinking in
order for something to actually happen.
Implementation of the reforms was kept
to a very strict timetable
10 Endorsement A signature on a commercial paper or
document. An endorsement on a negotiable
instrument, such as a check or a
promissory note, has the effect of
transferring all the rights represented
by the instrument to another individual.
The notes must also be made payable to a
definite person and require endorsement,
safeguards which were previously
lacking.
11 Insufficient What is not competent and something that
is not enough.
It may also dismiss a case on grounds
of insufficient evidence.
12 Jurisdiction Jurisdiction is the practical authority
granted to a legal body to administer
justice, as defined by the kind of case,
and the location of the issue. In
federations like the united states,
areas of jurisdiction apply to local,
state, and federal levels.
The country-specific Q&A gives a
structured overview of the key practical
issues concerning dispute resolution in
this jurisdiction, including court
procedures; fees and funding; interim
remedies and any reform proposals.
13 Miscarriage An outcome in a judicial proceeding that
is unjust especially : an error made in
a court of law that results in an
innocent person being punished or a
guilty person being free
In the vast majority of cases involving
contracts, there is no way of preventing
a miscarriage.
14 Merchantable “Merchantable” is equivalent to
“marketable” or “sellable.” Goods
are merchantable when they are of
reasonable quality within expected
variations and are fit for sale in usual
course of trade, at usual selling price.
The finance house will be liable if the
goods are not of merchantable quality
15 Notation The process or method of noting or
setting down by means of a special
system of signs or symbols. The act of
noting, marking, or setting down in
writing. A note, jotting, or record;
annotation: notations in the margin.
Its great merit consists in the
complete notation and symbolism, which
avoided the cumbersome expressions of
the earlier algebraists, and reduced the
art to a form closely resembling that of
to-day.
16 Obligation An obligation is a course of action that
someone is required to take, whether
legal or moral. Obligations are
constraints; they limit freedom. People
who are under obligations may choose to
freely act under obligations
But the respective obligations of
parties where repairs are, as they
always are in leases for years, the
subject of express covenant, may vary
indefinitely.
17 Pledge A pledge is a bailment that conveys
 possessory title to property owned by a
debtor to a creditor to secure repayment
for some debt or obligation and to the
mutual benefit of both parties. The term
is also used to denote the property
which constitutes the security. The
pledge is a type of security interest.
Sale or Pledge may means a voluntary or
involuntary sale, conveyance, mortgage,
grant, bargain, encumbrance, pledge,
assignment, grant of any options with
respect to, or any other transfer or
disposition
18 Redemption The liberation of an estate in real
property from a mortgage. Redemption is
the process by which land that has been
mortgaged or pledged is bought back or
reclaimed. It is accomplished through a
payment of the debt owed or a
fulfillment of the other conditions.
A reserve of 10 Million of gold had been
accumulated for the redemption of these
notes.
19 Statute An act of a legislature that declares,
proscribes, or commands something; a
specific law, expressed in writing.
A statute is a written law passed by a
legislature on the state or federal
level. Statutes set forth general
propositions of law that courts apply to
specific situations.
Protection for the consumer is laid down
by statute.
20 Solidary Solidary liability refers to liability
of any one debtor among two or more
joint debtors to pay the entire debt if
the creditor so chooses. It is
equivalent to joint and several
liability in the common law
There is a solidarity between the chosen
 few and the masses which produce them;
each has a duty to the other.
21 Stipulation An agreement between the parties to a
lawsuit. For example, if the parties
enter into a stipulation of facts,
neither party will have to prove those
facts: The stipulation will be presented
to the jury, who will be told to accept
them as undisputed evidence in the case.
The only stipulation the building
society makes is that house must be
insured.
22 Valid Binding; possessing legal force or
strength; legally sufficient.
A valid contract, for example, is one
that has been executed in compliance
with all the requisite legal formalities
and is binding upon, and enforceable by,
the individuals who executed it.
A valid Sale has four essential elements
that includes Offer & acceptance and
others.
23 Vendee
Buyer or purchaser; an individual to who
m anything is transferred by a sale.
The term vendee is ordinarily used in re
ference to a buyer of real property.
Whereas the vendor has offered to sell
the said plot to meet his / her urgent
family necessities and the vendee has
accepted the offer and agreed to
purchase the said property for a total
sale consideration of a certain product.
24 Vendor Seller; an individual who transfers
property for sale; merchant; retail
dealer; supplier. The term vendor is
frequently used in reference to an
individual who sells real property
Whereas the vendor has offered to sell
the said plot to meet his / her urgent
 family necessities and the vendee has
accepted the offer and agreed to
purchase the said property for a total
sale consideration OF A CERTAIN PRODUCT
25 Warranty A promise or assurance that may be
express, implied by the circumstances,
or implied by law. A warranty might be
an express or implied statement that
particular facts are true (for example,
that merchandise may be used for
particular purposes or that the seller
has clear title to real estate).
 If the warranty is limited, the
terms may entitle you to a replacement
or refund.