What do you mean by contract?

Contract means​ forman arrangement between two or more parties which

has a binding nature, in essence, the agreement with legal enforceability is
said to be a contract. It creates and defines the duties and obligations of
the parties involved.

What is the difference between a contract and agreement?

Agreement Contract
Definition An arrangement A formal arrangement
(usually informal) between two or more
between two or more party that, by its terms
parties that is not and elements, is
enforceable by law enforceable by law.
Validity Based On Mutual acceptance by Mutual acceptance by
both (or all) parties both (or all) parties
involved involved.
Consideration No Yes
required
Legal effect An agreement that A contract is legally
lacks any of the binding and its terms
required elements of a may be enforceable in
contract has no legal a court of law.
effect​.

Differentiate bailment and pledge?

Bailment Pledge
Meaning & Definition Transfer of possession Transfer of possession
for general service or for obtaining a debt or
tasks performance of
contract
Purpose for service, repair, task, for getting loans,
promise performance of
contract

Parties Bailee and Bailor Pledgee/Pawnee and

Pledgor/Pawnor

Rights of Cannot sell the goods Can sell the goods if

Bailee/pledgee the borrower defaults.

What do you mean by unpaid sellers?

Unpaid seller​ is a ​seller​ that has not been paid the full price of the goods
that have been sold or that has received a bill of exchange or other
negotiable instrument as conditional payment, has been dishonored.

What is sales of goods and what are the types of goods?

Sales of goods is a contract by which a seller transfers or agrees to
transfer the ownership of ​goods​ to a buyer in exchange for a money price

Types of goods are categorized in following ways:

● Existing Goods : ​Specific Goods and Unascertained goods

● Future Goods
● Contingent Goods
● Contract of Sale

Write an essay on Unpaid Seller

Unpaid Seller

In a transaction of sale it is not possible to avoid credit sales. In credit sales

there is a risk of a debtor not paying the price of the goods even after the
credit period is over. So, there’s always a possibility that a genuine seller
might be also a unpaid seller.
The term 'unpaid seller' may be defined as the seller to whom the full price
of the goods sold has not been paid.he legal definition of 'unpaid seller' is
given in Section 45 of the Sale of Goods Act, as under: "The seller of the
goods is deemed to be an unpaid seller within the meaning of this Act: (a)
When the whole of the price has not been paid or tendered; (b) When a bill
of exchange or other negotiable instrument has been received as
conditional payment and the condition on which it was received has not
been fulfilled by reason of the dishonor of the instrument or otherwise.
Feature of unpaid seller
1. He must sell goods on the cash basis and must be unpaid.
2. If he sells on credit basis, he is not an unpaid seller during the period of
credit. 3. The term of credit has expired and the price has not been paid to
him.
4. He must be unpaid wholly or partially. If a part of price remains unpaid,
he is unpaid.
5. When the price is paid in the form of negotiable instruments and it has
been dishonored.
6. If the buyer offers payment and the seller refuses to accept, the seller is
not an unpaid seller.