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The Sale of Goods Act, 1930 - 4 Video Lecture - Crash Course for CA Foundation
FAQs on The Sale of Goods Act, 1930 - 4
| 1. What is the main objective of the Sales of Goods Act, 1930? |  |
Ans. The main objective of the Sales of Goods Act, 1930 is to provide a legal framework for the sale of goods in India. It aims to define the rights and duties of buyers and sellers, ensuring fair trading practices and protecting consumers from unfair practices.
| 2. What are the essential elements of a contract of sale under the Sales of Goods Act, 1930? | |
Ans. The essential elements of a contract of sale under the Sales of Goods Act, 1930 include: 1. Offer and acceptance – there must be a clear offer by one party and acceptance by the other. 2. Consideration – the price must be paid or agreed upon. 3. Competency of parties – both parties must be legally capable of entering into a contract. 4. Legal purpose – the subject matter of the sale must be lawful.
| 3. How does the Sales of Goods Act, 1930 define 'goods'? | |
Ans. The Sales of Goods Act, 1930 defines 'goods' as any movable property, excluding actionable claims and money. This includes tangible items such as machinery, vehicles, and consumables, as well as specific goods that can be identified and agreed upon in a contract.
| 4. What rights does a buyer have under the Sales of Goods Act, 1930? | |
Ans. Under the Sales of Goods Act, 1930, a buyer has several rights, including: 1. Right to receive goods as per the contract. 2. Right to reject goods if they do not conform to the contract. 3. Right to demand delivery of goods. 4. Right to claim damages for non-delivery or defective goods.
| 5. What are the remedies available to a seller under the Sales of Goods Act, 1930? | |
Ans. The remedies available to a seller under the Sales of Goods Act, 1930 include: 1. Right to withhold delivery of goods. 2. Right to sue for the price if the buyer fails to pay. 3. Right to claim damages for non-acceptance of goods. 4. Right to resell the goods in case of buyer's default after proper notice.
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Apr 16, 2026 Last updated
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