Sales of Goods Act

Rushi Patel IU2081810096

Samiksha Dubey IU2081810114
Sales Of good act
“A contract of sale of goods is a contract
whereby the seller transfers on agrees to
transfer the property in goods to the buyer
for a price.”
Essentials of contract of sale
Requirements Two parties
All requirements of a There must be two
valid contract must be distinct parties to a
fulfilled contract of sale a buyer
and a seller.

Price Transfer of property

The consideration for a • Property here means
contract of sale, must be ownership
money consideration • A mere transfer of
called the price possession of goods
cannot be formed as sale
 Goods
The subject matter of contract of sale must be goods.

“Goods” means every kind of movable property other

than actionable claims and money, and includes
stock and shares.

Unascertained Goods

Future Goods Existing Goods

Specific Goods Contingent Goods

Includes both sale and agreement to sell
sale ( immediate transfer of ownership)

Agreement to sell ( parties are agree but transfer of goods

will occur in future)

No formalities are observed

Sale of good act does not prescribe any particular form
to constitute a valid contract of sale.

It is made by mere offer and acceptance.

Offer could be made by either party and accepted by

other.
Thank You...