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Tabrez Ahmad
Associate Professor of Law
www.site.technolexindia.com
tabrezahmad7@gmail.com
http://technolexindia.blogspot.com
Two parties:
There must be 2 distinct parties i.e., a buyer and a
seller
Goods:
Goods which form the subject matter of the contract
of sale must be movable.
Price:
The consideration for the contract of sale, called price,
must be money
Essential elements of a valid contract:
A contract is made by an offer to buy or sell goods for
a price and the acceptance of such offer.
Dr. Tabrez Ahmad,
Monday, April 05, 2010 Blog: http://technolexindia.blogspot.com, 5
SALE AND AGREEMENT TO SELL
Property in the goods is transferred from the seller to
the buyer- Sale
Merchantable quality
Usage of trade
Consent by fraud
Re sale