. Transfer of Ownership Transfer of property (ownership) in goods from the seller to the buyer is the main object of a contract of sale. The term property in goods must be distinguished from possession of goods. Property in goods means the ownership of goods while possession of goods refers to the custody of goods or control over the goods.
For eg. ‘A’ may possess a watch. Just because ‘A’ possesses the watch, he cannot be owner. He might have borrowed the watch from his friend or stolen the watch from somebody or found it on the highways.
In this case, he cannot be called owner. It is important to know the precise movement of time at which the ownership in goods passes from seller to buyer.