INTRODUCTION TO CONTRACT OF SALE IN CAMEROON
A Contract of Sale in Cameroon is an agreement for the exchange of goods, services, or property, between the seller and the buyer, for a promised or paid value, usually money on agreed sales agreement terms and conditions in Cameroon. For there to be a valid contract of sale, there are essential elements that must be present and if these essential elements are not present in the contract of sale, it would render a contract of sale invalid.
A contract of sale of goods is a contract, whereby, the seller transfers or agrees to transfer the property in goods to the buyer for a price. There can be a contract of sale between one part-owner and another.
In other words, under a contract of sale in Cameroon, a seller (or vendor) in the capacity of the owner, or part-owner of the goods, transfers or agrees to transfer the ownership of goods to the buyer (or purchaser) for an agreed-upon value in money (or money equivalent), called the price, paid or the promise to pay same. For there to be a valid contract of sale, there are several essential elements that must be in place.
SALES AGREEMENT TERMS AND CONDITIONS IN CAMEROON
- Firstly sales agreement terms and conditions in Cameroon are that In a contract for the sale of goods, there must be two parties present; the buyer and the seller. The parties do not necessarily have to be two single individuals; it could be two corporations with one as the buyer and the other as the seller.
- The next sales agreement terms and conditions in Cameroon is that a contract of sale of goods is bilateral in nature wherein property in the goods has to pass from one party to another. One cannot buy one’s own goods. For example, X is the owner of a bakery. If she supplies the goods (from the stock meant for sale) to his family, it does not amount to a sale and there is no contract of sale. This is so because the seller and buyer must be two different parties, as one person cannot be both a seller as well as a buyer.
- Also, essential sales agreement terms and conditions in Cameroon in a contract of sale are the goods. The subject matter of a contract of sale must be goods. Every kind of movable property except actionable claims and money is regarded as ‘goods.
- Transfer of property in goods an integral sales agreement terms and conditions in Cameroon contract of sale. The term ‘property in goods’ means the ownership of the goods. In every contract of sale, there should be an agreement between the buyer and the seller for the transfer of ownership. Here property means the general property in goods and not merely a special property.
- The last sales agreement terms and conditions in Cameroon are that the buyer must pay some price for goods. The term ‘price’ is the money consideration for a sale of goods. Accordingly, consideration in a contract of sale has necessarily to be in the money. Where goods are offered as consideration for goods, it will not amount to sale, but it will be called barter or exchange, which was prevalent in ancient times. Similarly, if a person offers the goods to somebody else without consideration, it amounts to a gift or charity and not a sale. In explicit terms, goods must be sold for a definite amount of money, called the price. However, the consideration can be partly in money and partly in valued goods. Furthermore, payment is not necessary at the time of making the contract of sale.
A contract of sale in Cameroon is a special type of contract, therefore, to be valid, it must have all the essential elements of a valid contract, that is, consent, consideration, competency of contracting parties, lawful object, legal formalities to be completed, etc. A contract of sale will be invalid if important elements are missing.
For instance, if X agreed to sell his house to Y because Y forced him to do so by means of undue influence, this contract of sale is not valid since there is no free consent on the part of the transferor. Therefore, where all the elements essential for a valid contract of sale have been met, a valid contract of sale in Cameroon has then come into being.
Article by MAFANY victor NGANDO
“The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.