Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) A contract of sale of goods is a contract by which the seller transfers or agrees to transfer property in goods to the buyer for a money consideration, called the price .
(2) There may be a contract of sale between one part owner and another.
(3) A contract of sale may be absolute or conditional.
(4) If, under a contract of sale, the property in the goods is transferred from the seller to the buyer, the contract is called a sale .
(5) If the transfer of the property in the goods is to take place at a future time or subject to a condition to be fulfilled after the transfer of the property in the goods, the contract is called an agreement to sell .
(6) An agreement to sell becomes a sale when the time elapses at which, or the conditions are fulfilled subject to which, the property in the goods is to be transferred.