Sale of Goods Act

1. SALE OF
GOODS
ACT 1930 Prepared By,
Joyal George

2. According to section 4 of the Act, a contract of
sale means “a contract where the seller transfers
or agrees to transfer the property in goods to the
buyer for price”
MEANING OF CONTRACT OF SALE

3. ESSIENTIALS OF CONTRACT OF SALE
 Two parties
 Goods
 Transfer of general property
 Price
 Essential elements of a valid contract

4. GOODS
According to section 2(7) the term ‘goods’ means “every
kind of movable property other than actionable claims and
money and includes stock and shares, growing crops, and
things attached to or forming part of the land which are
agreed to be severed before sale or under the contract of
sale”

5. GOODS
Existing goods
Specific
Ascertained
Unascertained
Future goods
Contingent
goods

6. I. Specific goods: Goods identified and agreed upon at the time of making
of the contract of sale of goods.
II. Ascertained goods: Goods identified subsequent to the formation of the
contract of sale. The terms ascertained and specific, are commonly used
for same kind of goods.
III. Unascertained or generic goods: Goods not identified or agreed upon at
the time of making of the contract of sale. They are the goods defined for
description only.
Existing goods : These are the goods which are owned or possessed by the seller at the
time of sale, Only existing goods can be the subject of a sale. The existing goods may be-

7. Example
‘A’ who wants to buy a television set goes to a showroom where four sets of Janta
model of Oscar television are displayed. He sees the performance of a particular set,
which he agrees to buy. The set so agreed to be bought is a specific set.
If after having bought one set he marks a particular set, the set so marked become
ascertained.
Till this all is done all sets are unascertained.

8. Example
‘A’ contract, on 1st January, to sell B 50 shares in Reliance Ltd, to be delivered and paid
for on the 1st March of the same year. At the time of making of the contract, A is not in
possession of any shares. The contract is a contract for the sale of future goods.
Future goods : Goods to be manufactured, produced or acquired after making
of the contract are called future goods.

9. Example
‘A’ agrees to sell 100 units of an article provided the ship which is bringing them, react
safely. This is an agreement for the sale of contingent goods.
Contingent goods: Goods, the acquisition of which by the seller, depends upon an uncertain
contingency are called ‘contingent goods’. They are also a type of future goods.

10. A contract of sale of goods involves transfer of ownership
from the seller to the buyer. Transfer of ownership or
property in goods is in fact the main object of making a
contract of sale.
Transfer of ownership

11. Rules regarding transfer of ownership
 Goods must be ascertained
 Property passes when intended to pass
Where there is an unconditional contract for the sale of specific goods in a
deliverable state, the property in the goods passes to the buyer when the contract
is made.
Example
B offers A for his horse a sum of Rs.1000. The horse is to be delivered to B on a
fixed day and the price is to be paid on another fixed day. A accepts the offer. The
horse becomes B’s property as soon as the offer is accepted.
 For specific goods (Sec 20 to 22)
 Passing of property at the time of contract (Sec. 20)

12. • Goods not in a deliverable state (Sec.21)
Where there is a contract for sale of specific goods not in a deliverable state, i.e, the
seller has to do something to he goods to put them into the deliverable state, the
property does not pass until such thing is done and the buyer has notice of it.
• When the price of goods is to be ascertained by weighing(Sec.22)
Where ther is a contract for sale of specific goods in a deliverable state, but the seller is
bound to weigh, measure, test or do some other act or thing with reference to the
goods for the purpose of ascertaining the price, the property does not pass until such
act or thing is done and the buyer has notice thereof.
 Passing of property delayed beyond the date of the contract

13. In the case of a contract for a sale of unascertained or future goods by description, property
will pass from the seller to the buyer when the goods of the same description, in a
deliverable state, are unconditionally appropriated to the contract by one party with the
consent of the other.
 For unascertained/ future goods (Sec 23)
 Goods sent on approval or ‘sale or return’ (Sec.24)
When the goods are delivered to the buyer on ‘approval’ or on ‘sale or return’ basis, the property
in the goods will pass from seller to the buyer, when any of the following conditioned are satisfied
• The buyer accepts the goods, or
• The buyer does something which is similar to his act of accepting the goods, e.g. , pledges the
goods or sells away the goods, or
• The buyer retains the goods without giving notice of rejection beyond the period fixed or
reasonable period if no time is fixed.

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Yellow
Is the color of gold, butter and
ripe lemons. In the spectrum of
visible light, yellow is found
between green and orange.
Blue
Is the colour of the clear sky and
the deep sea. It is located
between violet and green on the
optical spectrum.
Red
Is the color of blood, and because
of this it has historically been
associated with sacrifice, danger
and courage.
Yellow
Is the color of gold, butter and
ripe lemons. In the spectrum of
visible light, yellow is found
between green and orange.
Blue
Is the colour of the clear sky and
the deep sea. It is located
between violet and green on the
optical spectrum.
Red
Is the color of blood, and because
of this it has historically been
associated with sacrifice, danger
and courage.
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