4. CONTRACT OF SALE OF GOODS
A contract of sale of goods is a contract whereby
the seller transfers or aggrees to transfer the
property to goods to the buyer for a price.
5. Sale
Where under a contract of sale, the property in
the goods is transferred from the seller to the
buyer, the contract is called a sale.
6. Agreement sell
Where the transfer of the property in the goods is to
take place at a future time or subject to some
conditions thereafter to be fulfilled, the contract is
called an agreement to sell.
7. Essentials of a contract of sale
Two parties
Goods
Price
Transfer of general property
Essentials of a valid contract
8. 1 .Two parties
There must be two distinct parties. That is a buyer
and seller..
BUYER means a person who buys or agrees to buy
goods……….
SELLER means a person who sells or agrees to sell
the goods……….
These two terms are complementary.
9. 2.Goods
There must be some goods the property in which
is or is to be transferred from the seller to the
buyer. The goods which form the subject matter
of the contract of sale must be movable. Transfer
of immovable property is not regulated by the
sale of goods act.
11. 4.Trasfer of general property
There must be transfer of general property as
distinguished from special property in goods
from the seller to the buyer
12. 5.Essentials of a valid contract
All the essential elements of a valid
contract must be present in the
contract of sale..
