Report No. 61
2.30. The meaning of "sale" laid dawn in Simpson v. Conolly.-
A modern judicial expression of the prima facie meaning of "sale" is to be found in Simpson v. Conolly, Simpson v. Conolly, (1953) 2 All ER 474 (477) (Finnemore, J.).1It was held in that case that an agreement to extinguish an existing debt if land is transferred, is not a "sale" of land. The Court observed:
"But the general principle of English law is that a sale means the exchanging of property for money. That applies-and I think both counsel agree with this- to a sale of land and sale of chattels equally." Such is the primary meaning of the word "sale".
1. (The Edited 8th Edn. of Benjamin on Sales).