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of <h1>Key Terms Defined in Sales of Goods Act, 1930: Buyer, Seller, Delivery, Goods, Future Goods, Document of Title, Price, Insolvent.</h1> The Sales of Goods Act, 1930, provides definitions for key terms used within the Act. A 'buyer' is one who purchases or agrees to purchase goods, while 'seller' refers to one who sells or agrees to sell goods. 'Delivery' involves the voluntary transfer of possession. 'Goods' encompass all movable property except actionable claims and money. 'Future goods' are those to be manufactured or acquired post-contract. A 'document of title to goods' includes various business documents that authorize possession or transfer of goods. 'Price' refers to the monetary consideration for goods. 'Insolvent' describes someone unable to pay debts as they become due.
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