5. WHAT IS DEFINITION OF 'CONTRACT OF SALE OF GOODS' UNDER THE LAW?

Formal contract by which a seller agrees to sell and a buyer agrees to buy, under
certain terms and conditions spelled out in writing in the document signed by
both parties. An invoice, for example, is a contract of sale. Also called agreement of
sale, contract for sale, sale agreement, or sale contract. A contract of sale of goods is a
contract whereby the seller transfers or agrees to transfer the property in goods to the
buyer for a money consideration, called the price. There may be a contract of sale
between one part owner and another.

6. STATE THE DIFFERENCES BETWEEN CONDITION AND WARRANTY IN THE
TERMS OF A CONTRACT

The definitions of a condition and a warranty are very specific in the context of
insurance law. A warranty can be a condition but a condition may not be a warranty.
Generally, a condition is an essential part of a contract, and if breached, the party that
has been deprived is permitted to claim damages and even terminate the contract
because the breach has in effect repudiated the contract. On the other hand, a warranty
would not be considered a vital part of the contract. In the event that one of the parties
to the contract is found to be in breach of the contract, he or she is at liberty to make a
claim in damages but this does not mean that the party who did not breach the contract
could terminate the contract. The meaning of these terms is reversed in insurance law.
Warranties play a greater part in insurance law than conditions. A warranty is a
term of insurance contract that if the insured has breached, the insurer is no longer held
to be liable as of the date of the breach. So a breach of a warranty would invalidate the
insurance claim.

7. WHAT IS THE STATUTORY DEFINITION OF PARTNERSHIP AS PROVIDED
UNDER THE MALAYSIAN LAW?

Partnership is defined by Section 3(1) of the Partnership Act 1961 as the relation,
which subsists between persons carrying on a business in common with a view of profit.
No person may be a partner with himself. There must be at least two or more persons to
form a partnership. Section 3(2) excludes from statutory definition of partnership.