Explain the meaning and elements of the Contract of Sale. When goods are supplied under statutory compulsion, whether it results in a sale or not? Discuss the position with the help of relevant case laws.”
⭐ QUESTION 2 “Explain the meaning and elements of the Contract of Sale. When goods are supplied under statutory compulsion, whether it results in a sale or not? Discuss the position with the help of relevant case laws.” 1. INTRODUCTION The law relating to sale of goods in India is governed by the Sale of Goods Act, 1930 , which is based on English law. A contract of sale is a special type of contract in which ownership of movable goods is transferred from the seller to the buyer for a money price . The concept is important because rights such as risk, ownership, remedies, liabilities depend upon whether a contract of sale has been created or not. 2. Meaning of Contract of Sale (Section 4, Sale of Goods Act, 1930) Section 4(1): Definition A contract of sale is a contract where the seller transfers or agrees to transfer the property in goods to the buyer for a price. Important features of definition Transfer may be immediate → Sale Transfer may be in future or conditi...