Partnership A is the result of an agreement between the parties. In other words, we can say that mutual trust, agreement and understanding between partners. This article was written by Deyasini Chakrabarti of KIIT Law of School, Odisha. This article focuses on two fundamental concepts of sales and agreements for sale, different legal provisions related to them and also about their difference. Since the partnership begins with an agreement between the partners, it is the duty of the partners not to violate the loss while the merchandise is the property of the buyer. All partners have the right to give their ideas, knowledge and experience through business choices. In the event of an immediate sale, all rights related to the goods to the seller are tacitly receptive to the buyer, whereas this is not the case in the sales contract. In some cases, the sale is also made in accordance with the descriptions, which is why it applies to both the sale and the sale pursuant to Section 15 of the Property Sale Act, 1930. All conditions stored for understanding the sale must be carried out jointly by both parties and respected throughout the deal process until the date of the sale agreement. Therefore, a sale agreement is a basic document on which the deed of sale is written.
In other words, the sale agreement can be characterized as confirmation of the future event, which may take place depending on the compliance with the conditions set out in the present. Sales agreements are also a kind of sales contract, but they can be more in-depth and more binding than a simple sale. Taxes are only collected when the sale is complete, so no tax is involved in a sales agreement. has no right to use the property. In order for a partner to not be able to sell the property of the business without a contract, the buyer can claim damages for breach. On the other hand, the unpaid seller can also sue the buyer for damages. These conditions include the amount at which it will be sold and the date of future payment. The concept of the contingency contract, as defined in Section 31 of the Indian Contract Act 1872, can also be incorporated into this concept.
Thus, a contract is to sell a contract, do something or not to do if certain event security to such a contract, occurs or does not occur. It is the partner`s duty not to transfer his property without the consent of his partner. However, if the goods are sold and the property is transferred to the buyer, the seller is not paid. Then the seller can go to court and file a lawsuit against the buyer for the damage and price. On the other hand, if the goods are not delivered to the buyer, they can also sue the seller for damages. A member of the Hindu common family acquires an interest in the business through birth, marriage, adoption, etc. No agreement from other members required. Other members cannot deprive him of his right. A partner may be responsible for the dissolution of the company if he sees no prospect of a future. The sale agreement is an executory contract.
The parties are not yet ready to keep their mutual promises. In the sale agreement, the parties agree to exchange the goods for a price that depends on compliance with certain conditions at a later date. The head of a Hindu family business has the right to borrow, to mortgage the family property for the management of the business, but other family members do not have that right.