Report No. 61
1.2. Absence of element of passing of property or consensual element.-
The three transactions1 mentioned above may appear to be unconnected with one another. But certain legal issues are common to them. These issues arise out of the concept of sale as known to the general law of sale of goods-particularly, the passing of property and the consensual element in a sale. The total absence of these elements, or their presence in an imperfect form, has raised questions as to whether the transactions are taxable as sales.
1. Para. 1.1, supra.