define the term property in goods as used in sale of goods act.
Answers
Answer:
In the Act, property means 'ownership' or the general property i.e. all ownership right of the goods. A sale constitutes the transfer of ownership of goods by the seller to the buyer or an agreement of the same.
Answer:
In the Act, property means 'ownership' or the general property i.e. all ownership right of the goods. A sale constitutes the transfer of ownership of goods by the seller to the buyer or an agreement of the same.
Explanation:
The Indian Sale of Goods Act, 1930 is a Mercantile Law, which came into existence on 1 July 1930,[1][2] during the British Raj, borrowing heavily from the Sale of Goods Act 1893. It provisions for the setting up of contracts where the seller transfers or agrees to transfer the title (ownership) in the goods to the buyer for consideration. It is applicable all over India, except Jammu and Kashmir. Under the act, goods sold from owner to buyer must be sold for a certain price and at a given period of time. The act was amended on 23 September 1963, and was renamed to the Sale of Goods Act, 1930. It is still in force in India, after being amended 1963 and in Bangladesh as the Sale of Goods Act, 1930 (Bangladesh).