The term 'performance' is the fulfillment of the promise. The performance of the contract of sale of goods means the performance of the respective duties of the seller and the buyer as per the terms and conditions of contract. Thus, the performance of the contract of sale implies delivery of goods by the seller and acceptance of the delivery of goods and payment for them by the buyer in accordance with the contract. The parties are free to provide any terms in their contract about the time, place and manner of delivery of goods, or acceptance of goods and as well as time and mode of payment of the price.
Delivery of goods from by the seller and payment of price for them by the buyer is the performance of contract of the sale of goods. There are reciprocal promises in the contract of sale of goods. There are three main processes of the performance of a contract of sale of goods.
- Transfer or delivery of goods.
- Acceptance of the goods by the buyer.
- To pay a price for the goods.