Page 1 : SALE OF GOODS ACT, 1930, , , , (ener I, It is one of the special types of contract. Initially, it was the part of the Indian Contract, Act, 1872. Later it was deleted and a separate sale of Goods Act was passed in 1930. It, came into force on 1* July, 1930. It extends to whole of India except the State of Jammu &, , Kashmir,, , (Reinttonogeutonces |, As per Section 4(i) of the Sale of Goods Act, 1930, 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., , Essential Elements:, - There must be atleast two parties. (Bilateral Contracts), - The subject matter of the contract must be goods., - price in money should be paid or promised, - transfer of property in goods from seller to the buyer must take place., = _ It must be absolute or conditional., , - Allother essentials of a valid contract must be present., , , , Ee I, , , , As per Sec 2(7), it means every kind of movable property other than actionable claims, and money; and includes stock and shares, growing crops, grass and things attached to or, forming part of the land which are agreed to be severed before sale or under the contact, of sale, - Money means current money and it includes rare and old coins., - Actionable claim means what a person cannot make a present use of or enjoy, but, can recover it by means of a suit or an action. Thus, a debt due to a man from, another is an actionable claim and cannot be sold as goods, although it can be, , assigned. Under the provisions of the Transfer of Property Act, 1882, goodwill,