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Section 4 – The Sale of Goods Act, 1930

The Sale of Goods Act, 1930

 

4. Sale and agreement to sell.-

 

(1) 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. There may be a contract of sale between one part-owner and another.

 

(2) A contract of sale may be absolute or conditional

 

(3) Where under a contract of sale the property in the goods in transferred from the seller to the buyer, the contract is called a sale, but where the transfer of the property in the goods is to take place at a future time or subject to some condition thereafter to be fulfilled, the contract is called an agreement to sell.

 

(4) An agreement to sell becomes a sale when the time elapses or the conditions are fulfilled subject to which the property in the goods is to be transferred.

 

 

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The Sale of Goods Act, 1930

 

Indian Laws – Bare Acts

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