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Contract of Sales of Goods
Act, 1930
Chapter 14

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Definitions/Concepts
• Contract of Sales of Goods:
“ A contract whereby the Seller transfers
or agrees to transfers the Property in
goods to the buyers for a price.”
• Goods means every kind of movable
property other then actionable claims and
money.

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• Price:
Money, consideration for a sale of Goods.
• Seller
A person who sells or agrees to sell
goods.
• Buyer
A person who buys or agrees to buy
goods.
Definitions/Concepts

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Essentials of a Contract of Sale
• Contract
• Two Parties
• Transfer of Property
• Goods
• Price
• Sale and Agreement to Sell
• Other Formalities.

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Illustrations
• A Sells his Computer to B for Rs.40,000.
A is seller and B is Buyer.
• A Sells his Car to B for Rs.80,000.The
Ownership and the possession of the car
will transfers from A to B.

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Illustrations
• Subject Matter
A sells his car to B, for Rs.3 lac. It is a
contact of sale because here the Subject
Matter i.e. car is a movable Thing.
• A buys a book from S and Pays the Whole
Price on A Counter. It is Sale.

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Illustrations
• A agree to Buy B’s Car for Rs. 2 Lac if his
mechanic Approves the car.
Its is an Agreement to Sell.

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Kinds of Goods
• Existing Goods
• Specific Goods
• Unascertained Goods
• Future Goods
• Contingent Goods

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Difference between Sale and
Agreement to Sell.
• Transfer of Property
• Type of Goods
• Nature of Rights
• Risk of Loss

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• Consequences of Breach
• Right of Resale
• Nature of Contract
• Insolvency of Buyer and Seller.

11. Destruction of Goods
1. Perishing before formation of Contract:
seller is responsible
2. Perishing before sale but after agreement
to sell: buyer is responsible to receive
3. Perishing of future and contingent goods
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12. Modes of Fixation of Price
1. Parties
2. Agreed manner
3. Course of dealings
4. Reasonable price
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