JAMB - Commerce (2009 - No. 42)
The most important attributes in a sale of goods contract are?
offer and consideration
price and goods
offer and acceptance
demand and supply
ব্যাখ্যা
Sales of Goods Act, a contract of sale is one whereby a seller transfers or agrees to transfer the property in goods to the buyer for a consideration, called price. The most important factor in this contract is the seller offering to sell goods and the buyer accepting to buy the goods for a price. Provide there is an offer and an acceptance, the contract becomes binding.