The differences between sale and agreement to sale are as bellows;
Sale |
Agreement to sale |
1. Where ownership of the goods is transferred immediately at the time of contract, there is a sale of goods or an executed contract. |
1. Where there is an agreement to transfer the ownership of the goods in future there is an agreement on sale of goods. |
2. This is current selling contract. |
2. This is the agreement to sell the goods in future. |
3. Ownership of goods is transferred at the time of contract. |
3. Ownership of goods is transferred in the future. |
4. Ownership or possession lies with buyer. |
4. Ownership lies with the seller. |
5. The seller may file a suit against the buyer for price. |
5. Buyer may file a suit against the seller for indemnity. |
6. After payment the goods in possession of the seller can not be sold. |
6. The seller can sell the same goods again to another buyer. |
7. The seller can sell specific and existing goods. |
7. The seller can sell future contingent and unascertained goods. |
8. The buyer will be responsible for the loss of goods after the sale. |
8. The seller will be responsible in case of a loss of the goods. |