• Specific Year
    Any

GOODS ACT 1958 - SECT 6 Sale and agreement to sell

GOODS ACT 1958 - SECT 6

Sale and agreement to sell

    (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 money consideration called the price. There may be a contract of sale between one part owner 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.

No. 3694 s. 7.

S. 7

amended by Nos 9075 s. 5(1), 9427 s. 5(Sch. 4 item 4).