<P> The price must consist in valid currency . It need not be expressed in South Africa currency; if it is not, however, then in some convertible foreign currency . </P> <P> Where the consideration is completely in goods, rather than in money, the contract is one of exchange, not a sale . If it consists partly in money and partly in goods, the contract may be a sale or an exchange, depending upon the intention of the parties . Generally, though, the contract is a sale . </P> <P> This section considers legal consequences of the contract of sale, along with those of conditional sales, which modify the usual consequences . Certain relevant contractual terms are also briefly be discussed . </P> <P> It is not a requirement of a valid contract of sale that ownership should pass from seller to buyer . Although parties to a sale usually contemplate this happening, it is not an essential feature of a contract of sale, and (as we have seen) sales by non-owners are permissible . At common law, the transfer of a real right of ownership (the performance of the contract) is regarded as a separate legal transaction from the contract itself, which creates only personal obligations . </P>

Passing of ownership in a contract of sale