CPT Chapter Formation of Contract of Sale

 CA CPT Exam  

With Bharat Gelani.Duration:4hrs 01min 

Formation of the Contract of Sale Duration (min:sec)
Definition and Basic Concepts  
{modal https://www.youtube.com/embed/2LfvoIMGdns?autoplay=1;rel=0|width=780|height=439|title=Overview}Overview{/modal} 04:28
{modal https://www.youtube.com/embed/dKMiB5QXwig?autoplay=1;rel=0|width=780|height=439|title=Formation of Contract of Sale}Formation of Contract of Sale{/modal} 01:37
{modal https://www.youtube.com/embed/qMWExkp_nOk?autoplay=1;rel=0|width=780|height=439|title=Contract of Sale & it's Essentials}Contract of Sale & it's Essentials{/modal} 17:02
{modal https://www.youtube.com/embed/NDs7WYbVb0E?autoplay=1;rel=0|width=780|height=439|title=What are Goods}What are Goods{/modal} 16:59
{modal https://www.youtube.com/embed/vO4CpvD3xiY?autoplay=1;rel=0|width=780|height=439|title=What are not Goods}What are not Goods{/modal} 10:17
{modal https://www.youtube.com/embed/vcLVD6mmPXQ?autoplay=1;rel=0|width=780|height=439|title=Types of Goods}Types of Goods{/modal} 18:18
{modal https://www.youtube.com/embed/wiLUuucWRuA?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 02:19
{modal https://www.youtube.com/embed/_stPBI-iSuU?autoplay=1;rel=0|width=780|height=439|title=Other Definition -Buyer & Seller}Other Definition -Buyer & Seller{/modal} 06:56
{modal https://www.youtube.com/embed/GrjE3b1QCg4?autoplay=1;rel=0|width=780|height=439|title=Hypothecation vs. Pledge vs. Mortgage}Hypothecation vs. Pledge vs. Mortgage{/modal} 10:45
{modal https://www.youtube.com/embed/PoZZM4URYjY?autoplay=1;rel=0|width=780|height=439|title=Property of Goods}Property of Goods{/modal} 09:10
{modal https://www.youtube.com/embed/RAz01fncgpw?autoplay=1;rel=0|width=780|height=439|title=Sale vs. Agreement to Sell}Sale vs. Agreement to Sell{/modal} 13:57
Formalities , Delivery and Similar to Sale  
{modal https://www.youtube.com/embed/WDNMZHolTHI?autoplay=1;rel=0|width=780|height=439|title=Formalities of Contract of Sale}Formalities of Contract of Sale{/modal} 05:02
{modal https://www.youtube.com/embed/E3PU_w9xN4A?autoplay=1;rel=0|width=780|height=439|title=Subject Matter of Contract of Sale}Subject Matter of Contract of Sale{/modal} 03:18
{modal https://www.youtube.com/embed/xlDJIbhBEaA?autoplay=1;rel=0|width=780|height=439|title=Destruction of Goods}Destruction of Goods{/modal} 08:07
{modal https://www.youtube.com/embed/Thh1C5DjAMw?autoplay=1;rel=0|width=780|height=439|title=Price of Good}Price of Good{/modal} 20:47
{modal https://www.youtube.com/embed/__Re8KrRThY?autoplay=1;rel=0|width=780|height=439|title=Time }Time {/modal} 15:52
{modal https://www.youtube.com/embed/r-_bz52X_IE?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 12:09
{modal https://www.youtube.com/embed/tp2PNyHj6Yc?autoplay=1;rel=0|width=780|height=439|title=Delivery }Delivery {/modal} 05:23
{modal https://www.youtube.com/embed/6rbu-msJ5sg?autoplay=1;rel=0|width=780|height=439|title=Modes of Delivery}Modes of Delivery{/modal} 07:09
{modal https://www.youtube.com/embed/qw2uW0OEXk4?autoplay=1;rel=0|width=780|height=439|title=Document of Title}Document of Title{/modal} 22:04
{modal https://www.youtube.com/embed/k3yJTp6UMxY?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 03:09
{modal https://www.youtube.com/embed/YV4bRJPK_Vs?autoplay=1;rel=0|width=780|height=439|title=Sale vs. Heir Purchase}Sale vs. Heir Purchase{/modal} 15:00
{modal https://www.youtube.com/embed/ig-Nzkbb03k?autoplay=1;rel=0|width=780|height=439|title=Sale vs. Bailment}Sale vs. Bailment{/modal} 09:15
{modal https://www.youtube.com/embed/gxmqiaUzdr8?autoplay=1;rel=0|width=780|height=439|title=Sale vs. Work Contract}Sale vs. Work Contract{/modal} 02:22
{modal https://www.youtube.com/embed/5Rrmc3ZMOm4?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 03:13
{modal https://www.youtube.com/embed/oyFWiO4ESjc?autoplay=1;rel=0|width=780|height=439|title=Conclusion}Conclusion{/modal} 01:56
Total 04:06:34

Notes

Index

Contract of Sale
Goods, types of Goods & other definitions
Sale vs Agreement to Sell
Formalities of Contract of Sale
Delivery
Document of Title
Contract similar to sales

Contract of Sale

“a contract of a sale of goods is a contract whereby the seller transfers or agrees to transfer the property in the goods to the buyer for a price”
Essentials Contract of Sales
At least two parties
goods
money(not in kind- No barter) -paid or promised
Transfer of Property
Absolute or Conditional
Other Elements of Valid Contract

Formalities of Contract of Sale

(i) immediate delivery; or
(ii) immediate payment of price, delivery at future date; or
(iii) immediate delivery & immediate payment of price; or
(iv) delivery or payment or both in instalments; or
(v) delivery or payment or both at some future date.

Subject matter of Contract of Sales

(1) must always be goods
(2) May be contingent contracts.
(3) Sale of Future Goods = Agreement to sell and not sale

Destruction of Goods

Destroyed before the contract of sale – Void Contract – Risk with seller
Destroyed after the contract of sale – Valid contract – Risk with buyer

Price of Goods

Monetary consideration (not barter)
Price may be fixed :
Mutually by the parties ex- Purchase of furniture
As per manner provided in contract ex- cost+profit-commission
By Third party - Valuer
Trade usage or course of dealing

Notes:-
1. When not Fixed - resonable price (fact)
2. Third party fails to determine value – Contract becomes Void ,
3. Third party is prevented – default - party liable for damages
4. Goods Delivered – Price not ascertained - buyer pays reasonable price


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