धारा 26

Where, by a contract, a person transfers, or agrees to transfer, to another person, any property of which the transferor is, as such, absolutely entitled, without delivering possession of the property to the transferee, the transfer is called a "sale" of that property. The transfer of such property is called a "transfer of property by sale". Where, by a contract, a person transfers, or agrees to transfer, to another person, any property of which the transferor is, as such, entitled to absolute ownership, but is prevented from delivering possession of the property to the transferee, the transfer is called a "sale" of that property. The transfer of such property is called a "transfer of property by sale".