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.
A contract of sale may be absolute or conditional
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.
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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