Movie Case Study
The scene that you just saw shows an exchange between a customer and a restaurant. When the order is accepted by the restaurant, there is an implied agreement that forms between the client and the restaurant. A customer is required to pay for the food that the restaurant will deliver. This is a type of Sales transaction.
Mrs. Doubtfire or Robin Williams who is pretending to be a nanny for his own kids wants to impress his wife and orders food from a high-end restaurant in San Francisco.
In this movie, Mrs. Doubtfire (Played by Robin Williams) is calling up Valenti’s Restaurant and ordering food. Now, the restaurant will cook food knowing, that the customer (Mrs. Doubtfire) will pay when goods (food) are delivered to her house. Mrs. Doubtfire spent a total of $140 on the food while the food cost him $135.27. Learning Perspectives will explore the meaning of a sale in this blog.
What is a Sale?
A sale is a transaction between 2 parties i.e. the buyer and the seller. The buyer receives the goods or services and the seller sells these goods and services in exchange for money.
A sale can also be referred to as a contract or agreement between a buyer and a seller which they undertake for the price of a good or service.
For a sale to take place, there need to be certain conditions met for it to be called a sale.
First, Both parties should be considered of sound mind, when entering into a sales transaction.
Second, There should be goods or services available to be purchased.
Third, If one party enters into a transaction and does not receive any payment for it, then it might be considered a charity or donation.
Every day, countless sales transactions take place and without them, this economy would not work.