What do we call the passing of title from seller to buyer for a price?

The passing of title from seller to buyer for a price is referred to as a "sale." In legal and business terminology, a sale is the act of transferring ownership of goods or property in exchange for payment. This transaction is foundational in commerce and signifies a completed exchange where the seller relinquishes ownership and the buyer acquires it.

In the context of funeral service education, understanding the term "sale" is essential because it encompasses the exchange of funeral goods and services, which often involves the transfer of various legal titles, such as those of caskets, urns, or other merchandise. Recognizing the nuances of this term aids professionals in navigating sales regulations and ensuring compliant transactions with families seeking funeral services.

The other options represent different concepts. "Transfer" generally refers to the movement of rights or property and may not necessarily imply a transaction involving compensation. "Assignment" usually denotes the act of transferring rights or responsibilities under a contract, often between parties without a direct buyer-seller relationship. A "contract" is a formal agreement between parties but does not by itself imply the act of an exchange; rather, it sets the terms for a potential sale among other arrangements. Understanding these distinctions helps clarify why "sale" is the most accurate term in this context.