CONTRACT OF SALE OF GOODSA contract of sale of goods is a contract wherebythe seller transfers or aggrees to transfer theproperty to goods to the buyer for a price.
SaleWhere under a contract of sale, the property inthe goods is transferred from the seller to thebuyer, the contract is called a sale.
Agreement sellWhere the transfer of the property in the goods is totake place at a future time or subject to someconditions thereafter to be fulfilled, the contract iscalled an agreement to sell.
Essentials of a contract of saleTwo partiesGoodsPriceTransfer of general propertyEssentials of a valid contract
1 .Two partiesThere must be two distinct parties. That is a buyerand seller..BUYER means a person who buys or agrees to buygoods……….SELLER means a person who sells or agrees to sellthe goods……….These two terms are complementary.
2.GoodsThere must be some goods the property in whichis or is to be transferred from the seller to thebuyer. The goods which form the subject matterof the contract of sale must be movable. Transferof immovable property is not regulated by thesale of goods act.
3.PriceThe consideration for the contract of salecalled price, must be money…
4.Trasfer of general propertyThere must be transfer of general property asdistinguished from special property in goodsfrom the seller to the buyer
5.Essentials of a valid contractAll the essential elements of a validcontract must be present in thecontract of sale..