What is the term for an agreement to transfer title to goods for a price?

The term that describes an agreement to transfer title to goods for a price is a "contract of sale." This legal document outlines the specifics of the transaction, including the identification of the goods, price, terms of payment, and conditions of delivery. In a contract of sale, the seller agrees to transfer ownership (title) of the goods to the buyer in exchange for payment, which is typically a predetermined price. This concept is foundational in commercial law, as it defines the obligations and rights of both parties involved in the transaction.

The other options—such as contracts to lease or service—focus on different types of agreements that do not involve the transfer of ownership of goods. For example, a contract to lease primarily deals with the rental or usage rights of a property or item without transferring ownership. Similarly, an agreement to lend involves giving someone temporary possession of an asset but does not involve any exchange of ownership either. A contract to service typically entails providing services rather than selling goods. Understanding these distinctions helps highlight why the contract of sale is the correct choice in this context.