A new contract is created with the same terms as the original one, but the parties are different. Contractual liability may be voluntarily discharged by the agreement of the parties, by estoppel, and by the cancellation, intentional destruction, or surrender of a contract under seal with intent to discharge the duty. donee beneficiary of the contract is a non-party who benefits from a promise that is made for the purpose of making a gift to him or her. A donor wishes to give a donee $200 as an anniversary present. The donor plans to sell a television set for $200 to a purchaser, who promises to pay the donee the $200 directly.
Sellable is the standard adjectival form of sell. It is still in common use. In UK (but perhaps not US) English, if one wants a neutral term to say that a commodity is of a class that may be sold, without making any judgement as to its desirability, then the word to use is sellable.
Popular Terms. Trading arrangement in which a seller sends goods to a buyer or reseller who pays the seller only as and when the goods are sold. The seller remains the owner (title holder) of the goods until they are paid for in full and, after a certain period, takes back the unsold goods. Also called sale or return, or goods on consignment.