Sale of Goods Act, 1962 (Act 137). Revised Edition | Act 137 — Ghana law | Esheria

Sale of Goods Act, 1962 (Act 137). Revised Edition

This section defines a contract of sale of goods and explains when a bailment arrangement is treated as a sale.

AI-assisted research synopsis — verify against the official legal text below.

Jurisdiction
Ghana
Instrument
Act or statute
Citation
Act 137
Version
Undated source snapshot
Language
en
Official source
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FOB shipping terms agency assessment of damages assignment restrictions auction sales breach of contract buyer in possession buyer obligations buyer payment buyer protections buyer rejection buyer remedies buyer termination buyer-seller obligations capacity to contract carriage of goods commencement commercial contracts commercial terms conditional payment contract definition contract definitions contract exceptions contract formalities +102 more

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Statute overview

About this statute

This section defines a contract of sale of goods and explains when a bailment arrangement is treated as a sale. Capacity to buy and sell follows the general law on capacity to contract and to transfer or acquire property. If necessaries are supplied to someone under a void agreement because of incapacity, that person must pay a reasonable price. A contract of sale of goods may be made in writing, by word of mouth, partly in writing and partly by word of mouth, or implied from the parties’ conduct. Rules for auction sales: bids may be retracted before completion, sellers may withdraw goods subject to limits, and in some cases the highest bona fide bidder has a right to buy. A sale of goods can involve specific goods already identified, or unascertained goods not yet identified.