Section 5(1) in The Jammu and Kashmir Sale of Goods Act, 1996 (1939 A.D.)
(1)A contract of sale is made by an offer to buy or sell goods for a price and the acceptance of such offer, The contract may provide for the immediate delivery of the goods or immediate payment of the price or both, or for the delivery or payment by installments, or that the delivery or payment or both shall be postponed.
