A purchase agreement is an agreement to sell a property in the future. This agreement sets out the conditions under which the property in question is transferred. The Transfer of Ownership Act of 1882, which governs matters relating to the purchase and transfer of real estate, defines the sale contract or sale agreement as follows: the certificate of the relevant authority authorizing the owner to begin the construction of the property (after ensuring that all the criteria set are met) is considered to be the authorization and the beginning description. As a general rule, the certificate of accreditation is issued by the local authorities. It is imperative to possess this certificate in order to begin the construction of (a) when the buyer makes known to the seller, expressly or implicitly, the specific purpose for which the commodity is necessary to demonstrate that the buyer has confidence in the seller`s abilities or judgments and that the goods have a description that he made in connection with the sale to delivery by Whether the manufacturer is the manufacturer or not, that the product must be appropriate for this purpose, provided that there is no implied condition as to its suitability for a specified purpose in the case of a contract to sell a particular property under its patent or other trade name; 4. If the seller expressly reserves a resale right in the event of a buyer`s delay and the buyer sells the goods in the event of a delay, the original sales contract is revoked, without prejudice to any claims made by the seller. R.S., about 408, 49. (b) an auction is concluded when the bidder announces its completion by the hammer deal or other customary means, and until such an announcement is made, any bidder may withdraw its bid; What the sales contract creates is the buyer`s right to acquire the property in question in 1996, 1996. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions.
2. Unless the buyer is authorized to do so, the seller must enter into a contract with the carrier on behalf of the buyer, which is appropriate given the nature of the merchandise and the other circumstances of the case, and if the seller refrains from doing so and the goods are lost or damaged during transport, the buyer may refuse delivery to the carrier as a delivery to himself. or may make the seller liable for the damage. 55 Nothing in this Act affects the right of the buyer or seller to recover particular interest or damages in all cases in which interest or special damages may be repaid by law, or to recover the money paid in the event of failure of the consideration of payment. R.S., about 408, 55. As noted above, the sale is immediate, while a sale agreement will be reached in the future based on certain conditions. Thus, at the time of the sale, there is an effective transfer, whereas at the time of the agreement to sell future transfers, there is. Risks are transferred immediately into the sale, while in the sales contract, risks are attached to the seller until the goods are transferred in the future. The sale is an executed contract, while the sales agreement is a contract of execution.