Wednesday, April 21, 2010

Sale of Goods Act

Sale of Goods Act (with its variations) is a stock short title used for legislation in the United Kingdom relating to the sale of goods.
An Act with this short title will have been known as a Sale of Goods Bill during its passage through Parliament.
Sale of Goods Acts may be a generic name either for legislation bearing that short title or for all legislation which relates to the sale of goods.

Sales of Goods Act 1957
(1) A contract of sale of goods is a contract whereby the seller
transfers or agrees to transfer the property in goods to the buyer
for a price. There may be a contract of sale between one partowner
and another.
(2) A contract of sale may be absolute or conditional.
(3) Where under a contract of sale the property in the goods
is transferred from the seller to the buyer, the contract is called
a sale, but where the transfer of the property in the goods is to
take place at a future time or subject to some condition thereafter
to be fulfilled, the contract is called an agreement to sell.
(4) An agreement to sell becomes a sale when the time elapses
or the conditions are fulfilled subject to which the property in the
goods is to be transferred.

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