Section 5
Section 5
(1)
Capacity to buy and sell is regulated by the general
Capacity to law concerning capacity to contract and to transfer and buyandsell acquire property.
(2)
Where necessaries are sold and delivered to a minor or to a person who by reason of mental incapacity or drunkenness is incompetent to contract, he must pay a reasonable price for them.
(3)
In subsection
(2)
, "necessaries"
means goods suitable to the condition in life of the minor or other person concerned and to his actual requirements at the time of the sale and delivery.
Formalities of contract 6.
(1)
Subject to this Act and any other law, a contract of
Howcontract sale may be made in writing (either with or without seal), or ofsaleismade by word of mouth, or partly in writing and partly by word of mouth, or may be implied from the conduct of the parties.
(2)
Nothing in this section affects the law relating to companIes.
BLR.O.1I1999
10
Sale of Goods
Existingor future goods
Goods which have perished
Goods perishing before sale but after agreement to sell
Ascertain-ment of price
Subject matter of contract 7.
(1)
The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or goods to be manufactured or acquired by him after the making of the contract of sale, in this Act called future goods.
(2)
There may be a contract for the sale of goods the acquisition of which by the seller depends on a contingency which mayor may not happen.
(3)
Where by a contract of sale the seller purports to effect a present sale of future goods, the contract operates as an agreement to sell the goods.