We have already seen some of rules relating to Indian Contract Act, 1872. These rules are applicable to contract of Sales of Goods Act as for as they are not in consistent with the express provisions of sales of goods Acts. This Act came into force on first July 1930. The provisions of this Act extend to the whole of India except the state of J&K. certain minor amendments were made in this Act in 1963.
Some of the provisions of Indian Contract Act apply to this Act for example the rules relating to Capacity of parties, free consent, agreements in Restaurant of trade, wagering agreements and measure of damages. However the definition of consideration stands modified to the extent that in a contract of sale of goods consideration must be my way of ‘Price’, only money consideration.
Just like Indian Contract Act, there should be offer and acceptance in the case of sales of goods. The parties to the contract enjoy unfettered discretion to agree to any terms they like, for example delivery of goods and payment of Price etc.
The sales of goods Act does not seek to fetter this discretion; it simply lays down certain positive rules of General application for those cases where the parties have failed to contemplate expressly for contingencies which may interrupt the smooth performance of a contract of sale, such as destruction of goods sold, before it is delivered or in solvency of the buyer.
Some of the provisions of Indian Contract Act apply to this Act for example the rules relating to Capacity of parties, free consent, agreements in Restaurant of trade, wagering agreements and measure of damages. However the definition of consideration stands modified to the extent that in a contract of sale of goods consideration must be my way of ‘Price’, only money consideration.
Just like Indian Contract Act, there should be offer and acceptance in the case of sales of goods. The parties to the contract enjoy unfettered discretion to agree to any terms they like, for example delivery of goods and payment of Price etc.
The sales of goods Act does not seek to fetter this discretion; it simply lays down certain positive rules of General application for those cases where the parties have failed to contemplate expressly for contingencies which may interrupt the smooth performance of a contract of sale, such as destruction of goods sold, before it is delivered or in solvency of the buyer.
However the law gives full freedom to the parties to modify any provisions.
Definition of Sale of goods
Section 4 (1) the sales of goods Act defines a contract of sale of goods as “A contract where by the seller transfers or agrees to transfer the property in goods to the buyer for a price”.
Definition of Sale of goods
Section 4 (1) the sales of goods Act defines a contract of sale of goods as “A contract where by the seller transfers or agrees to transfer the property in goods to the buyer for a price”.
Introductory Contract of Sale of Goods
![Introductory Contract of Sale of Goods]()
Reviewed by Hosne
on
8:49 AM
Rating:
