Contracts and obligations · Legal glossary
Sale contractIn Arabic: عقد البيع
Definition
A sale contract is a contract by which the seller transfers ownership of the thing sold to the buyer for a price in money.
How it varies across the GCC
Article 307 of the Saudi Civil Transactions Law defines it. Bahrain’s Civil Code, article 381, includes the accessories and appurtenances of the thing sold. An off-plan sale of a unit is a specific form of sale, with its own registration and escrow rules in the state where the project is built.
The rules that apply to a specific matter depend on the state, any free zone involved and the current text of the law, so check the official source before relying on them.
Sources
Official texts for the points on this page. General information, not legal advice. An article number is cited only where it was verified.
- Saudi Civil Transactions Law, art. 307https://laws.boe.gov.sa/BoeLaws/Laws/LawDetails/655fdb42-8c96-422b-b8c4-b04f0095c94c/1
- Bahrain Civil Code, Decree-Law No. 19 of 2001, art. 381https://www.lloc.gov.bh/Legislation/HTM/L1901