CSEC Principles of Business  /  Marketing  /  Terms of sale

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Terms of sale

The terms of sale are the conditions on which goods are sold: how and when the buyer pays. A fridge can be bought for cash, on credit, on hire purchase or on layaway. Paper 1 asks in which trade hire purchase is mostly used (retail) almost every year.

By the end of this page you can

  • Tell cash, credit and hire purchase apart
  • Work out the cost of credit on hire purchase
  • Explain layaway and consignment
  • Tell a trade discount from a cash discount

Goals tick themselves off as you try the activities below.

A row of refrigerators in a store, each with a large price card such as $349 and $379.

Photo: Stilfehler, CC BY-SA 4.0, via Wikimedia Commons. Cropped, brand names blurred, resized, JPEG q72.

A $349 fridge can be paid for in one go, or bit by bit: that choice is the terms of sale.

How often it shows up in past papers

All papers14 of 23 papers
Last 53 of 5 · 2023–2026

Paper 1 counts come from our past-paper bank of CSEC Principles of Business Paper 1s. The last-5 row shows how often it came up in the five most recent papers.

Inside this topic

  1. Ways to payLocked
  2. Six termsLocked
  3. Key termsLocked
  4. Test yourselfmarkedLocked
  5. Practise for real · 14 past questionsLocked