An agreement to sell is distinguishable from sale because in the former, the transfer of goods is

Assessment: JAMB UTME - Commerce - 1994 Subject: Commerce

Question 1 Report

An agreement to sell is distinguishable from sale because in the former, the transfer of goods is
Answer Details
An agreement to sell is different from a sale because in the former, the transfer of goods is deferred, while in the latter, it is immediate. An agreement to sell is a contract between a buyer and a seller, which outlines the terms and conditions of the sale of goods. However, the actual transfer of ownership and possession of the goods will take place at a future date, or after certain conditions have been met, such as the payment of the purchase price. In a sale, on the other hand, the transfer of ownership and possession of the goods takes place immediately, and the buyer becomes the owner of the goods.
Read lesson note on Purchase And Sale Of Goods (JAMB)
Read lesson note on Commerce (JAMB)
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