Contract for Sale of Goods

Summary

This precedent is a contract of sale for goods and sets out blanket terms and conditions of sale. A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in the goods to the buyer for a money consideration, called the price. This precedent includes practical guidance and drafting notes. A contract of sale may be absolute or conditional; there may be a contract of sale between one part owner and another. Where under a contract of sale the property in 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. 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. For a full discussion of the key provisions in the negotiation and ...