The definition of a contract for the sale of goods This is defined as a ‘contract by which the seller transfers or agrees to transfer the property in goods to the buyer for money consideration called the price’ (s 2(1) of the SGA):
consideration must be in monetary form;
the price is to be fixed by the contract or determined by the course of dealings between the parties;
‘goods include personal property of a movable type’ – land and buildings are specifically excluded;
any agreement can be made orally or in writing.