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Assignment No.2
Business and Labour Law (MGT611)
Topic:
Contract Of Sales of Goods
LEARNING OBJECTIVES:
• What is a Sale of Goods Act?
• What are the main essentials of the Sales of Goods Act and how they are applied?
LEARNING OUTCOMES:
• Students will learn about the essentials of a Sale of Goods Act?
• Student will learn how a Sale of Goods is made and how it works between two parties.
CONCEPTUAL BACKGROUND:
The contract of sale is a general term includes a sale and an agreement to sale. When there is a
time or a condition, subject to which the property in the goods are transferred or fulfilled, an
agreement to sell becomes a sale. A sale of goods is a contract in which the seller transfers the
property or agrees to transfer in goods to a buyer for a price. Such laws aim at protecting
customers by ensuring that the goods offered for sale are safe and meeting all the standards of
quality and requirements of the customers.
THE CASE:
Mr. Nadeem purchased a second hand Honda Civic car from the famous car dealer. The car
dealer told him that the automatic system of the car is a little defective and will not cost him
more than rupees 30,000/-. The car dealer offered Mr. Nadeem a choice either to take the car on
a discounted rate, or he would repair it for the buyer and charge the full price. Mr. Nadeem opted
to avail the discount and get the car as it is. Later on, Mr. Nadeem came to know that the fault
would cost him rupees 40,000/- to get repaired. The car dealer had already mentioned the fault to
Mr. Nadeem, therefore the buyer does not have any right to return the car to the car dealer.
REQUIREMENT:
In the above case, a simple contract of sales of goods occurred, where the seller brought the main
defect in buyer’s consideration before final purchase, thus there is no point of deceiving or
misrepresentation of good. Being the student of business law, you are required to mention at
least five essential elements of a “Sales of Goods Act”. Points must be in your own words with
logical arguments. (Marks 5x3=15)

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Replies to This Discussion

kis lecture me sy aai ha ya assignment ?? 

From Lecture No. 36 + Generally covering much part of subject.

Following are the essential elements of sales of goods act 1930

1: An agreement
2: Parties (there must be two parties)

3: transfer of property {(that is transfer of ownership)

4: sale of goods ( movable property) 

5:sale

6: the consideration being the price.

These are not essential elements of sales of goods. Instead these are essentials of Contract of sales.

Anyone with right solution/suggestions??

SALE OF GOODS ACT, 1930

The law relating to sale of goods is contained in the Sale of Goods Act,

1930. It has to be read as part of the Indian Contract Act, 1872 [Sections 2(5) and (3)].

Contract of Sale of Goods

      According to Section 4, a contract of sale of goods is a contract whereby the seller:

       (i) transfers or agrees to transfer the property in goods

      (ii) to the buyer,

      (iii) for a money consideration called the price.

      It shows that the expression "contract of sale" includes both a sale where the seller transfers the ownership of the goods to the buyer, and an agreement to sell where the ownership of goods is to be transferred at a future time or subject to some conditions to be fulfilled later on.

The following are thus the essentials of a contract of sale of goods:

 

(i)          Bilateral contract: It is a bilateral contract because the property in  goods

 has to pass from one party to another. A person cannot buy the goods himself.

 

(ii)        Transfer of property: The object of a contract of sale must be the transfer of property (meaning ownership) in goods from one person to another.

 

(iii)      Goods: The subject matter must be some goods.

 

(iv)      Price or money consideration: The goods must be sold for some price, where the goods are exchanged for goods it is barter, not sale.

 

(v)         All essential elements of a valid contract must be present in a contract of sale.

 

Good job Nabila azam. Keep it up....

good keep it up.

thanx Iqbal Zahid 

SCALE OF GOODS ACT, 1930
The law relating to sale of goods is contained in the Sale of Goods Act,
1930. It has to be read as part of the Indian Contract Act, 1872 [Sections 2(5) and (3)].
Contract of Sale of Goods
According to Section 4, a contract of sale of goods is a contract whereby the seller:
(i) transfers or agrees to transfer the property in goods
(ii) to the buyer,
(iii) for a money consideration called the price.
It shows that the expression "contract of sale" includes both a sale where the seller transfers the ownership of the goods to the buyer, and an agreement to sell where the ownership of goods is to be transferred at a future time or subject to some conditions to be fulfilled later on.
The following are thus the essentials of a contract of sale of goods:

(i) Bilateral contract: It is a bilateral contract because the property in goods
has to pass from one party to another. A person cannot buy the goods himself.

(ii) Transfer of property: The object of a contract of sale must be the transfer of property (meaning ownership) in goods from one person to another.

(iii) Goods: The subject matter must be some goods.

(iv) Price or money consideration: The goods must be sold for some price, where the goods are exchanged for goods it is barter, not sale.

(v) All essential elements of a valid contract must be present in a contract of sale.

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