Transfer of property means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and one or more other living persons.
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.
Sec. 4 (1), The Sale of Goods Act, 1930" A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another.
Broadly, types of contract are divided into 3 types: On the Basis of the 1. Mode of Formation 2. Performance 3. validity or Enforceability
The Indian Contract Act mostly deals with the general principles and rules governing contracts. The Act is divisible into two parts. The first part (Section 1- 75) deals with the general principles of the law of contract and second part (Sections 124-238) deals with certain special kinds of contracts
Business Law is also known as Commercial law or corporate law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.
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