Thursday, September 10, 2009

The price.

The price:

The price in a contract of sale means the money consideration for sale of goods it forms an essentials part of the contract.it must be expressed in money. It must be the considerations for the transfer or it is agreement to transfer the property in goods from the seller to the buyer. It is not essentials that the price should be fixed at the time of sale. It must, however, be payable, though it may not haven fixed.

Ascertain price:

Price in a contract of sale may be fixed by the contract itself. Or left to be fixed in an agreed manner, or determined by the course of dealing between the parties.

Agreement to sell at valuation:

The parties may agreed to sell and buy goods on the terms that prices is to be fixed by the valuation of the third party. If such third party cannot be or does not make such valuation, the agreement becomes void.

Earnest:

Quite often in a contract of sale the buyer may give some tangible thing as a token of goods faith as a guarantee or security for the due performance of the contract. This returned or is in the form of money it is adjusted against the purchase price.

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