Monday, April 19, 2010

Sales of Goods Act

What is the definition of " Sales of Goods "?
The seller transfer or agree to transfer the property in good to the buyer for a price.

The Seller- It refers to the person who want to give up some items or something belongs to him/her to someone in the interest of getting some items or money in return.

transfer or agree to transfer - Give some items to someone with some money return within the agreement between seller and buyer. Usually , these group of buyers will get the items immediately or the other day in future which is agreed by seller.

the property in good - the seller is not only transfer their item physically to the buyer, but also the ownership of the items should be transfer to the other parties. It may be sell or rent.

the buyer- It refers to the person who want to give up money or ownership in items for exchanging the ownerships in items of the seller.

We can refer the Law to the Sale of goods contract 1957 Malaysia and merchantile law proposed in West Malaysia, Penang and Malacca.

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