Question

What can be the subject matter of the contract of sale as per the sale of Goods Act*

Answer 1

Answer:

The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or future goods. (2) There may be a contract for the sale of goods the acquisition of which by the seller depends upon a contingency which may or may not happen.

Answer 2

The subject matter of the contract of sale as per the sale of Goods Act* are as follows:-

• It says that, the goods which form the subject of a contract of sale may be either owned, possessed or the existing goods by the seller, or the future goods.

• A contract of sale or contract for sale is a legal agreement for the purchase of goods by a buyer from the seller for a price that both are agreed upon.

• A contract for the sale of assets has some features such as transfer of ownership of the goods, rights and duties of the buyer and seller and delivery of goods.

• Some other features that it contains are conditions and warranties implied under a contract for the sale of goods and remedies for breach of contract.