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Presentation
on
SALE OF GOODS
ACT, 1930
INTRODUCTION
Came into force in the year July 1, 1930
Governs the contract relating to the sale of goods
Applicable to the whole India except the state of
Jammu & Kashmir
Between 2 parties
In goods.
Specific Goods:
Goods identified and agreed upon at the time of the making
of the contract of sale are called specificgoods[Sec.
2(14)].
Unascertained goods:
The goods, which are not separatelyidentified or
ascertained at the time of the making of thecontract, are
known as unascertained goods.
FUTURE GOODS:
CONTINGENT GOODS:
A type of future goods, the acquisition of
which depends upon a contingency which may or
may not happen.
AGREEMENT TO SALE:
Transfer of the property in the goods is to be
taken place at some future date or after fulfilment
of some condition.
DIFFERENCE BETWEEN SALE
AND AGREEMNT TO SELL
SALE AGREEMENT TO
SELL
1.Ownership is with 1. Ownership is with the
the buyer. seller.
2.Executed contract. 2. Executory contract.
3.Sue for price in 3. Sue for damages
case of breach. only, in case of
4.If goods lost by breach.
accident, then the 4. Goods lost by
loss falls on the accident, then the
buyer. loss falls on the
seller.
DIFFERENCE BETWEEN SALE AND HIRE
PURCHASE
SALE HIRE
PURCHASE
1. Property in the goods is The property in the goods passes
transferred to the buyer to the hirer upon payment of the
immediately at the time of last installment.
contract
1. The position of the buyer is The position of the hirer is that of
that of the owner of the a bailee till he pays the last
goods installment.
1. The buyer cannot The hirer may, if he so likes,
terminate the contract and terminate the contract by
is bound to pay the price of returning the goods to its owner
the goods. without any liability to pay the
remaining installments.
4. The seller takes the The owner takes no
risk of any loss such risk, for if the
resulting from the hirer fails to pay an
insolvency of the installment, the owner
buyer. has the right to take
back the goods.
5. The buyer can pass The hirer cannot pass
a goods title to a any title even to a
bonafide purchaser bonafide purchaser.
from him.
6. Sales tax is levied Sales tax is not leviable
at the time of the until it eventually ripens
contract into a sale
SALE AND CONTRACT OF
WORK
The Sale of Goods Act applies to
contract of sale and not to contract for
work.
A contract of sale
contemplates the delivery of goods
whereas a contract for work involves
exercise of skill and labour by one
party in respect of materials supplied
by another.
TYPES OF DELIVERY
ACTUAL DELIVERY:
Where the goods handed over by the seller
to the buyer or his duly authorised agent,
the delivery is said to be Actual Delivery.
SYMBOLIC DELIVERY:
Where the goods are ponderous or bulky
and incapable of actual delivery , then it is
said to be Symbolic Delivery.
CONSTRUCTIVE DELIVERY:
TIME OF DELIVERY
When the time of sending the goods has
not been fixed by the parties, then the
seller must send them within a reasonable
time is termed as Time of Delivery.
INSOLVENCY OF SELLER
If the seller is declared insolvent before the
delivery of goods, the buyer can claim the goods
from the official receiver of the seller because he
(the buyer) is the legal owner of the goods.
INSOLVENCY OF BUYER
If the buyer declared insolvent before making the
payment for the goods the seller has the right to
refuse for the delivery of goods.
RIGHTS OF UNPAID SELLER
RIGHTS OF UNPAID SELLER AGAINST THE
GOODS:
RIGHT OF LIEN:
The seller has a right of lien on the goods for the price
while he/she is in possession, until the payment or
tender of the price of such goods.
SALE BY DESCRIPTION:
In this case, the implied condition is that goods
should correspond with the description. A buyer can
reject the goods, if the goods are not according to
the description.
SALE BY SAMPLE:
PRESENTED BY:
MUNEESH
NAVEENKUMARA K
POORNA CHANDRA BS
PRAKYATH SRIDHAR
PRIYANKA NAYAK
RAHUL KUMAR SINGH
PRANAV
RAGHAVENDRA