Sale of Goods
Definition of Sale of Goods
The sale of goods Act 1893 defines a contract of sale of goods as a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a money consideration called the price. Apart from the usual elements of a valid contract, two additional elements – goods and money consideration (price) must be present in a contract of sale of goods. A contract of sale of goods includes both a sale and an agreement to sell.