Explain the essential elements of a contract of sale of goods.

1. 1 · Open in two lines. A contract of sale of goods transfers, or agrees to transfer, ownership of goods for a money price. It is governed by the Sale of Goods Ordinance.
2. 2 · Two parties. A seller and a buyer, who must be different persons.
3. 3 · Goods. Movable property, including growing crops; not money or things in action. Kinds: existing (specific, unascertained), future, contingent.
4. 4 · Price and transfer of property.
   • Price must be money; otherwise barter.
   • Ownership, not mere possession, must pass or be agreed to pass.
5. 5 · General essentials. Agreement, capacity, free consent, lawful object.
6. 6 · Sale vs agreement to sell, and similar deals. Property now or later; risk follows property; barter, hire purchase and bailment are not sales.
7. 7 · In Sri Lankan business. Tea auction lots are sales of specific goods; forward supply deals are agreements to sell future goods.
8. 8 · Close in one line. If any element is missing, the deal is not a sale of goods under the Ordinance.

Scoring tip: Define first, then one heading per element. A small sale vs agreement to sell table adds easy marks.