On Friday, March 21st, 2014, L'Oréal and Nestlé signed the share purchase agreement; the completion of the sale is conditional upon the approval of the sale by the competition authorities. (Reuters)
Legal recognition of some status or fact in a jurisdiction is formal acknowledgement of it as being true, valid, legal, or worthy of consideration and may involve approval or the granting of rights. (Wikipedia)
Every state requires public companies incorporated within it to hold an annual general meeting of shareholders to elect the Board of Directors and transact other business that requires shareholder approval. (Wikipedia)
"In a sale on approval sometimes called a ""sale on trial,"" goods are delivered to the prospective buyer, an ultimate consumer, by a merchant (merchant seller to consumer buyer) for a stated period of time with the understanding that the goods may be returned if the consumer buyer is not satisfied after examining and even testing the goods before making the purchase." (Cengage Advantage Books: Business Law)
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