Sale of Goods Act section 9

May 20, 2023

The consideration or share prices in M.S. Madhusoodhanan v. Kerala Kaumudi Pvt. Ltd., AIR 2004 SC 909, were left to be decided later. A contract of this nature would allegedly be null and void due to uncertainty. The Sale of Goods Act, 1930’s Section 9 permits the parties to defer determining the amount of consideration and not to establish the price at the moment of the transfer, hence the Supreme Court rejected the claim by ruling that it was inadmissible. A contract that calls for the future fixation of prices by the parties themselves or by a third party can be rendered certain and is not ineffective.

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