Price

In respect of sales, the first rule is that no sale can take place without price. If there be no valuable consideration to support of a voluntary surrender of goods by real owner to another person, the transaction is gift and is not governed by the rules relating to sale.It may be money actually paid or promised to be paid according to the agreement is for a cash on a certain sale but in other consideration than money must be given is not a sale. Moreover the money must be given as the price i.e as quid prologue on a transfer of property on sale.