What Is the Meaning of Contract of Sale in Hindi

When it comes to understanding the legalities of commerce, the term “contract of sale” carries a lot of weight. In various industries, it is an essential document that establishes a mutually agreed-upon framework for the purchase and sale of goods or services. To understand the meaning of the “contract of sale” in Hindi, let us dive deeper into its definition and implications.

In Hindi, the phrase “contract of sale” translates to “विक्रय संविदा,” where Vikray refers to the act of selling or trading, and Sangvida means a formal agreement. As per the Indian Contract Act of 1872, a contract of sale is defined as a legal agreement in which one party agrees to transfer ownership of a particular good or service to another party for a specified price or consideration.

This contract is generally used in business dealings and outlines key details such as the names of the parties involved, the description of the goods or services being sold, the price, the payment method, the delivery method, and other relevant terms and conditions. It serves as proof of a binding agreement between the buyer and the seller and provides legal protection to both parties in case of any disputes that may arise.

In India, contracts of sale are categorized into two types – specific goods and unascertained goods. Specific goods refer to goods that are explicitly identified and agreed upon by both parties. For example, a car with a specific make and model number, which the buyer has inspected and agreed to purchase. In contrast, unascertained goods refer to goods that are not explicitly identified or agreed upon but are defined by a particular description or category. For example, a buyer could purchase a shipment of rice rather than a specific batch of rice.

A contract of sale must be entered into with free consent from both parties and without any coercion or undue influence. It should also comply with the relevant legal requirements in India, such as stamp duty, registration, and tax obligations.

In conclusion, a contract of sale is a legally binding agreement between two parties, where one party agrees to transfer ownership of specific or unascertained goods or services to another party for an agreed-upon price or consideration. In Hindi, it is called “विक्रय संविदा,” and it is an essential document in business dealings that protects the rights of both the buyer and the seller. It is crucial to ensure that any contract of sale complies with the relevant legal provisions in India and is entered into with free consent from both parties.

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