Distinguish the following: Sale and Purchase Agreement

Sale and Purchase Agreement: Sale: A contract by which property in goods passes from the seller to the buyer for a price. Ownership is transferred immediately upon the formation of the contract. Purchase Agreement (or Agreement to Sell): A contract that specifies the terms and conditions of a sale of goods, but the transfer of ownership is to take place at a future time or subject to certain conditions being fulfilled. It is the most important legal document in any sale process. Key Differences and Implications: If there is an 'agreement to sell' and the seller commits a breach, the buyer has only a personal remedy against the seller, namely, a claim for damages. But if there has been a 'sale', and the seller commits a breach by refusing to deliver the goods, the buyer has not only a personal remedy against him but also the other remedies which an owner has in respect of goods themselves such as a suit for conversion or detenue, etc. A hire purchase agreement is basically a contract of hire, but in addition, it gives the hirer an option to purchase at the end of the hiring period. Consequently, until the final payment, the hirer is merely a bailee of ownership remains vested in the bailor. Under such a contract, the owner of goods delivers the goods who agrees to pay certain stipulated periodical payments as hire charges. Though the possession is with the hirer, the ownership of the goods remains with the original owner.