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Sale of Goods Act


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Sale of Goods Act

According to the Sale of Goods Act introduced in the year 1930, it keeps a control over the sale of goods. To be more specific, this particular act is applicable to all states of India. However, this act is not applicable for people dealing with goods transactions in Jammu and Kashmir.

Diverse Elements of Sale

In addition to those included above, you will also find a couple of elements of a sale. Often referred to as a sale of contract as well as goods, this is nothing but a contract wherein the seller either transfers the goods to a buyer for a decided price or agrees to transfer his own property in the form of goods. More specifically, it can be rightly termed that this kind of a contract includes anything and everything starting from an agreement to sell and extending up to various other agreements.

Goods imply every type of variable property excluding money and actionable claims. To be more specific, it takes into consideration various things starting from shares, stocks, and often extends up to grass or growing crops. This isnít all, it also takes into consideration things which are either attached to or are a part of the land.

Difference Between Sale and Agreement to Sale

Often, we find it difficult to distinguish between a sale and an agreement to sale. But then, the major difference between them lies in their legal implications. It can be also termed that a contract where the goods are transferred by the seller to the buyer, is referred to as a sale. At the same time, when you find that the goods are to be transferred to the buyer by the seller in the distant future, then it is referred to as an agreement to sell. In addition to this, an agreement to sale may also take place when the goods are not delivered at the proposed time because of some unforeseen conditions. Many a times, it is also observed that an agreement to sell gets converted to a sale. This kind of a situation usually takes place when the time for a proposed delivery elapses. Additionally, such situations may also take place when the terms and conditions are fulfilled subject to which the goods are to be transferred.

So, it can be safely concluded that though sale and agreement to sale may sound somewhat similar, but then they have a strong demarcating line when considered at a profound level.

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