Commentary

105 Terminology and definitions

COMMERCIAL CONTRACTS vol 7(2)
| Commentary

105 Terminology and definitions

| Commentary

105 Terminology and definitions

  1. 105.1

        Sale: Where, under a contract of sale, the property in the goods is transferred from the seller to the buyer, the contract is called a sale1.

  2. 105.2

        Agreement to sell: Where under a contract of sale the transfer of the property in the goods is to take place at a future time or subject to some condition later to be fulfilled, the contract is called an agreement to sell2.

  3. Note that some distinctions between a sale and an agreement to sell:

    1. 105.2.1

          under an agreement to sell, if a party defaults, the other party

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