A contract of sale is a promise in the future that the property will be transferred to the rightful owner, while the deed of sale is the actual transfer of ownership to the buyer. Thus, the term „condition“ could be more associated with the immediate sale, while the term „guarantee“ could rather be linked to the sales agreement. Subsequently, we will also find that section 13 of that law is also inclined to the sales agreement, since it stipulates that a condition could be treated as a guarantee. On the basis of the above-mentioned fundamental legal principle regarding the granting of an exemption from the specific performance of a contract, the Supreme Court of India recently annulled, in a judgment of Jayakantham and others against Abaykumar, the Decree on the Specific Performance of a Contract for the Sale of Real Estate and awarded financial compensation to the buyer (defendant) instead of the exemption of a given performance. A sales document is a document that proves that the seller has transferred absolute ownership of the property to the buyer. Through this document, the rights and shares of ownership are acquired by the new owner. A certificate of sale usually consists of the following information: when the products are destroyed, the buyer bears the accident, although the goods are the property of the seller. This article was written by Deyasini Chakrabarti by KIIT Law of School, Odisha. This article deals mainly with two fundamental concepts of sale and sales agreement, different legal provisions related to them, as well as their difference. In Cehave N.V.
v. Bremer Handelsgesellschaft mbH; in Hansa Nord (1976) Q.B.44, it was stated that a written contract for the sale of fruit granules contained the explicit provision: „the shipment shall be in good condition“. In fact, some of the pellets were not in good condition during the expedition. However, on arrival, they were still fit to be used for the purpose desired by the buyer and, although they were less valuable than they should have been, they could have been resold at a reduced cost. In the event of an immediate sale, all rights related to the goods are immediately transferred to the buyer, while this is not the case for the sales agreement. In some cases, the sale is also made in accordance with the descriptions, which is why it applies to both the sale and the sales agreement referred to in section 15 of the Sale of Goods Act 1930. The nature of the sales agreement is subject to conditions. Even if the signing of the sales contract does not mean that the sale is over, it is a decisive step in this direction. For this reason, buyers need to know precisely the conditions set out in the agreement. The sale and the sales agreement, as actually expressed, appear to be under a similar non-exclusive name, but must be treated simultaneously under different classifications. In this sense, to conclude a transaction, an agreement on the idea of the items must be communicated or concluded, and compliance with the condition would lead to the end of the title in the products that will be sold by contract.
These two ideas of offering and approving the deal are themselves a powerful idea. In cases where you have purchased and taken possession of real estate under a contract of sale, title to the property remains in the hands of the developer, unless a certificate of sale has been executed a posteriori and registered under the Indian Registration Act. Thus, it is clear that a title to immovable property can only be transferred by a deed of sale. In the absence of a duly stamped and registered deed of sale, the buyer of the property does not have the right, title or interest in a property. What the sales contract creates is a right for the buyer to purchase the property in question under certain conditions….