LAW OF SALE OF GOODS
Essentials of a Valid Sale
§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 price.
§Where there is a transfer it is a
contract call a ‘Sale’.
§A contract of sale may be
absolute or conditional. The former is without any conditions.
§Conditions may have to be
fulfilled by the seller or by the buyer. Essentials of a Valid Sale
§Property: Transfer of ownership in goods.
§Movable goods: Goods that are not fixed
§Price: Price or consideration of goods
must be money.
§Parties: Two parties only. Buyer &
Seller.
§Form: May be made in writing or by
word of mouth.
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