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.
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