Sales Of Goods Act And The Metaverse

Manasvita (Mann) Parashar, Jindal Global Law School, Sonipat

ABSTRACT

This paper revolves around the concept of Metaverse and how metaverse can affect the laws in India focusing primarily on The sales of Goods Act, 1930. The Sales of Goods Act deals with the contractual obligations and regulations between a buyer and a seller of goods and this paper would be putting forward the question of whether the transactions of buying and purchasing of AI goods can be governed by the Sale of Goods Act or not. Metaverse is a visual reality world which is used by real time human beings that enables them to connect and do their daily life activities virtually through virtual round table conferences, parties, contracts and also conduct businesses which also include buying and selling of goods or to be precise, virtual goods. The paper starts with explaining the metaverse as a concept and what the functionalities of this virtual universe is. It further talks about The Sales of Goods Act and what kind of goods come under the ambit of this particular act. We also discuss shares and the definition of shares which is given the act and it is one of the big factors which affect the argument in question of this paper.