A contract of sale of goods is a legal agreement where a seller transfers or agrees to transfer goods to a buyer for money, called the price. It is commonly used in business and trade to ensure fair and clear transactions. Laws like the Sale of Goods Act, 1930 govern such contracts and protect the … Read more
Transfer of ownership refers to the process by which the legal ownership of goods passes from the seller to the buyer. It determines who holds the title to the goods and who bears the risk associated with them. Once ownership is transferred, the buyer becomes the owner and assumes responsibility for the goods, including risks … Read more
The term Sale of Goods describes a transaction in which a seller gives a buyer ownership of goods in return for payment or other consideration. The Sale of Goods Act, 1930, which specifies the rights and responsibilities of buyers and sellers to guarantee equitable and open transactions, governs this transaction. Meaning of Sale of Goods … Read more