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- Define a contract of sale.
- Outline six items that must be contained in a contract of sale.
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Most of the candidates performed poorly on this question on contract of sale of goods.
A contract of sale is an agreement whereby the seller transfers or agrees to transfer the right of the goods for an amount of money called the price.
Provisions of the contract of sale are as follows:
- Price.
- Quality.
- Means of payment.
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