An agreement whereby the seller transfers or agrees to transfer the property in goods for a monetary consideration is a
Answer Details
An agreement whereby the seller transfers or agrees to transfer the property in goods for a monetary consideration is called a "contract of sale". In simpler terms, a contract of sale is an agreement between a buyer and a seller, where the seller agrees to sell and transfer the ownership of certain goods to the buyer in exchange for a specified amount of money. It is the most common type of contract used in the sale of goods and is governed by the Sale of Goods Act.