SOGA

What is 'delivery'?
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Terms in this set (16)
What is 'delivery'?
"delivery" means voluntary transfer of possession from one person to another
What is actionable claim?
Unsecured debt ; Claim in movable goods
Does actionable claim apply to sale of goods act?
No
What is goods according to SOGA?
goods 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 contract of sale;
Does air around us count as goods?
as per PIL, air is common property of all. Thus, it is not good.
What do you mean by "fault goods'?
means goods to be manufactured or produced or acquired by the seller after the making of the contract of sale
What is special property?
Special Property means identifiable property in which the holder has only a qualified, temporary, or limited interest
What is property?
means the general property in goods, and not merely a special property
sale
a contract where the ownership is transferred for a price in cash
Consideration
something of value exchanged for something else of value
What is consideration for seller and buyer?price in cash and transfer in ownershipWhat does Sec 4(1) of SOGA state?Contract of sale is a contract whereby the seller transfers or agrees to transfer the property in the goods to the buyer for a price.Which section involves the meaning of goods?Sec 2(7)What is difference between transfer and agrees to transfer?Agrees to tranfer includes future goodsCan two parties be same?Yes but with different capacitiesIntangible goods?Commissioner of Sales Tac MP v MP Electricity Board and Jabalpur cable network v ESPN states that intangible goods fall under Contract of Sale