Section 40 : Contract relating to sale of goods

1) A contract relating to the sale of goods shall be deemed to have been concluded. In case any seller agrees to hand over any goods to the buyer immediately or in the future by receiving a price.

Explanation:   For the purpose of this chapter, the term ‘goods’ means any type of movable or immovable property except currently used currency, security, or actionable claim .

2) A contract relating to the sale of goods may be conditional or unconditional.

3) A contract may be concluded with a provision to sell goods owned or possessed by the seller or those to be produced or acquired by him/her in the future.