Explanation:

Payment of price in cash.

Essential Elements of Sale

Parties

Subject Matter

Price

Price is an essential ingredient for all transactions of sale and in the absence of the price or the consideration, the transfer is not regarded as a sale. The transfer by way of sale must be in exchange for a price. It has been held that price normally means money. The price can be paid fully in cash or it can be partly paid and partly promised to be paid in future. The price can be fixed by the agreement between the parties before the conveyance of the property. The price is to be fixed reasonably.

Delivery of Property

Rights and Duties of Seller and Buyer