THE SALE OF GOODS ACT 1930
ABOUT ME MYSELF PRIYAL AGRAWAL CS EXECUTIVE& BCOM 2ND YEAR STUDENT CS FOUNDATION (AIR 22) HOBBIES TO READ NOVELS, EXPLORING NEW THINGS FOLLOW ME ON UNACADEMY https:/L unacademy.com/user/PriyalAgrawal
SALE DISTINGUISHED FROM OTHER SIMILAR CONTRACTS
.Sale and Hire Purchase: Contract of sale resembles with contracts of hire purchase very closely, and indeed the real object of a contract of hire purchase is the sale of the goods ultimately Hire purchase agreements are governed by the Hire- purchase Act, 1972. Term "hire-purchase agreement" means an agreement under which goods are let on hire and under which the hirer has an option to purchase them in accordance with the terms of the agreement and includes an agreement under which (a) Possession of goods is delivered by the owner thereof to a person on condition that such person pays the agreed amount in periodical instalments, and . (b) The property in the goods is to pass to such person on the payment of the last of such instalments, and
(c) Such person has a right to terminate the agreement at any time before the property so passes, (ii) Sale and Bailment: A bailment' is the delivery of goods for some speci c purpose under a contract on the condition that the same goods are to be returned to the bailor r are to be disposed o according to the directions pf the bailor. Provisions related to bailment are regulated by the Indian Contract Act,
i) Sale and contract for work and labour: A contract of sale of goods is one in which some goods are sold or are to be sold for a price. But where no goods are sold, and there is only the doing or rendering of some work of labour, then the contract is only of work and labour and not of sale of goods. Example: Where gold is supplied to a goldsmith for preparing an ornament or when an artist is asked to paint a picture.
Ascertainment of price (Section 9: (1) The price in a contract of sale may be fixed by the contract or may be left to be xed in manner thereby agreed or may be determined by the course of dealing between the parties. (2) Where the price is not determined in accordance with the foregoing provisions, the buyer shall pay the seller a reasonable price. What is a reasonable price is question of fact dependent on the circumstances of each particular case.
Analysis: 'Price' means the monetary consideration for sale of goods. the price in the contract of sale may be- . (1) fixed by the contract, or . (2) agreed to be fixed in a manner provided by the contract, e.g., by a valuer, or (3) determined by the course of dealings between the arties.
Thanks! Any questions? Ask me in the comment sections below! Rate Review Recomm
CS Student, AIR 22 in CS foundation,love Teaching, reading, travelling, novels, fashion freak, watch the lessons to knw more