THE SALE OF GOODS ACT

SALE OF GOODS 5THE SALE OF GOODS ACT[Ist July, 1895.1cap. 349.1. This Act may be cited as the Sale of Goods Act. short title.PART I. Formation of the ContractContract of Sale2.41) A contract of sale of goods is a contract whereby meandthe seller transfers or agrees to transfer the property in treytgoods to the buyer for a money consideration, called theprice. There may be a contract of sale between one partowner and another.(2) A contract of sale may be absolute or conditional.(3) Where under a contract of sale the property inthe goods is transferred from the seller to the buyer thecontract is called a sale; but where the transfer of theproperty in the goods is to take place at a future time orsubject to some condition thereafter to- be fulfilled thecontract is called an agreement to sell.(4) An agreement to sell becomes a sale when thetime elapses or the conditions are fulfilled subject to whichthe property in the goods is to be transferred.3. Capacity to buy and sell is regulated by the general Cawcitytobuy and sell.law concerning capacity to contract, and to transfer andacquire property :Provided that where necessaries are sold and deliveredto an infant, or minor, or to a person who by reasonof mental incapacity or drunkenness is incompetent to contracthe must pay a reasonable price therefor.mo indukon of this page is authorized by L.N. 480119731