sold

Imports a valuable consideration, and a valid contract to sell or convey. 6 See Sale. Sold note. See Note, 1, Bought, etc.

See Sale; Sell. The word sold, at the commencement of a memorandum of agreement, made, on the sale of goods, by the vendors, means, contracted to seU. Russell v. Nicoll, 3 Wend, 112. The words " I have sold," in a conveyance, import a valuable consideration. Reaves v. Ore Knob Copper Co., 74 N. C. 593. In a count to recover the price of land, an allegation that the land was sold imports that the land was conveyed. Staunton V. Henderson, 1 Smith, 54. Where the authorities of a city constituted trustees to manufacture gas for the city use, under arrangements with city creditors that the city should not take the ultimate ownership of the property where the gas was manufactured until the debt created by raising the funds required in establishing the gas-works should he paid; and it was further agreed with the creditors that the city must have the gas at a certain reduced rate, and that the trustees the principal of that debt, it was held that the gas must be deemed " sold " to the city, and that it was subject to internal revenue tax, under a law which declared illuminating gas taxable if "made and sold," but exempt if made by a person " not for sale, but for his own use." Philadelphia v. Collector, 6 Wall. 720. Sold note. See Bought Note. ^ SOLE. Alone; individual; single. Thus a corporation consisting of a single natural person is called a sole corporation; a woman unmarried is called a feme sole; one who holds lands alone, no other being joined with him, is called sole tenant.