The Sale of Goods Act, 1930, provides a framework for the sale of goods in India. It defines the provisions of a contract of sale between a seller and a buyer, outlining the essential elements that must be present in such a contract.

The following are the essential elements of a contract of sale under the Sale of Goods Act, 1930:

1. Offer and acceptance: A contract of sale begins with an offer made by the seller to the buyer. The buyer must accept the offer to create a binding contract. The acceptance must be communicated to the seller.

2. Goods: The contract must involve the sale of goods. These goods can be any tangible property that is movable, except for money and actionable claims.

3. Price: The contract must specify a price that the buyer must pay the seller. This price can be determined in any manner agreed upon by both parties.

4. Intention to transfer ownership: The seller must have the intention to transfer the ownership of the goods to the buyer once the contract is complete.

5. Capacity to contract: Both parties involved in the contract must have the legal capacity to enter into a contract. This means that they must be of legal age, of sound mind, and not disqualified from entering into contracts.

6. Free consent: The consent of both parties must be given freely without any undue influence, coercion, or misrepresentation.

7. Legal formalities: The contract of sale should be in writing, signed by both parties, and should contain all the essential terms and conditions of the sale.

8. Delivery: The seller must deliver the goods to the buyer in the manner agreed upon by both parties. If the contract specifies a place of delivery, the seller must deliver the goods to that place.

9. Payment: The buyer must pay the price agreed upon in the contract at the time and place specified.

In conclusion, the Sale of Goods Act, 1930, lays down the essential elements that must be present in a contract of sale. The contract should have an offer and acceptance, involve the sale of goods, specify a price, have the intention to transfer ownership, and be entered into by parties with a legal capacity to contract. Both parties must give their consent freely, and the contract should be in writing, contain all essential terms and conditions, and specify the delivery and payment details.