The Sale of Goods Act, 1930 Assignment Help

The Sale of Goods Act, 1930 Assignment Help

The Sale of Goods Act, 1930 is considered a Mercantile law and it is a type of Indian Contract Act. This act came into force on 1st July 1930. This Act is recognized as a contract and in this; the seller transmits or does approve to transfer the ownership of the goods to the buyer for consideration. Students who are studying The Sale of Goods Act are usually given the task of completing assignments on this topic. When they wish to get flying colors in their assignments, they find it suitable to take The Sale of Goods Act, 1930 assignment help only from the writers of BookMyEssay. We have carved a niche for itself in the world of assignment writing.

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The Definition of the Sale of Goods

In the Sales of Goods Act, 1930 a contract of sale gets made by an offer for buying or selling goods for a cost and the acceptance is done by the other party for such a proposal. This contract can either be oral or written, and it can be conditional or absolute. Some important terms of this contract are as follows:

• Buyer – The person who buys or decides to purchase the goods
• Seller – The person who sells or chooses to sell goods
• Goods – Goods include every type of movable property but not actionable things or money.
• Existing goods – These goods are in existence when the contract of sale is being made.
• Future goods – These goods are to be produced or manufactured by the seller post making a contract of sale.
• Particular goods – Goods that are identified plus agreed upon during the time of making the contract of sale.

Essentials for the Sale

The five essential features of a contract of sale are:

• Two parties – A deal must be bilateral as the goods get passed from one individual to another. Here, there ought to be a buyer, means who purchases or approves of buying and a seller means the person who sells or decides to sell goods. Both the seller and the buyer must be different people.
• Subject matter to be goods – Goods means every type of movable property besides actionable claims plus money. Goods include shares and stocks, grass, crops, and things that form the portion of the land. Money can’t be sold, as money is meant legal tender instead of the old coins that can be sold or purchased as goods.
• Transfer of possession of goods – This ought to be the transfer of possession of goods from the part of the seller to the buyer, and this is not the transfer of limited interest or mere possession that happens with the pledge, hire or lease purchase agreement.
• Consideration is price – The consideration that arises in the contract of sale ought to be the price, which is money. If the goods are proposed in the form of consideration in exchange for goods, then it will not result in a sale. This will be recognized as barter. Again, if there isn’t any consideration, then it will be termed a gift.
• Essential components of a legal contract – Every crucial factor of a valid deal ought to be present, free consent, competent parties, legitimate object, etc. The transmission of ownership and possession under this act needs to be voluntary instead of contaminated with coercion or fraud.

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