A standard sales contract obligates one party to purchase goods or services for a predetermined price established in the contract. Some sales contracts are ongoing and can include a buyout clause.

Forbes contributors publish independent expert analyses and insights. I explain what business leaders need to know about the law. With new coronavirus cases spreading, every business faces questions ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...