A document in which the purchaser agrees to buy certain property and the seller agrees to sell under stated terms and conditions. Also called sales contract, binder or earnest money contract.

A contract by which the owner of land (vendor) agrees to sell land to another (purchaser) who aggress to purchase it. The purchaser's interest is registered in the Land Title Office as a charge against the vendor's certificate of title. The contract provides that the purchase price will be paid by instalments.