Buyer

The essence of sale is the transfer of the property in a thing from one person to another for a price. As per Section 4, the contract of sale includes an agreement to sell. It is not necessary that contract of sale must be absolute. It may be conditional as well. The essential feature that distinguishes the contract of sale from an agreement to sell is that in a contract of sale the property in the goods is transferred from the seller to the buyer immediately whereas in an agreement to sell property is transferred on a future date/dates. An agreement to sell becomes a sale on fulfillment of the conditions or when the time provided in the agreement elapses.

REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 5876 OF 2009 State of Uttaranchal (now known as State of Uttarakhand) & Ors. …… Appellants Vs. M/s. Khurana Brothers …… Respondent WITH CIVIL APPEAL NO. 5878 OF 2009 CIVIL APPEAL NO. 5879 OF 2009 CIVIL APPEAL NO. 5880 OF 2009 JUDGMENT … Continue reading →