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    Question

    A transfer of property in completion of an exchange can be made only in the manner provided for the transfer of such property:

    A by mortgage Correct Answer Incorrect Answer
    B by gift Correct Answer Incorrect Answer
    C by sale Correct Answer Incorrect Answer
    D by lease Correct Answer Incorrect Answer

    Solution

    1.    Transfer of Property Act: Section 118.  “Exchange” defined: When two persons mutually transfer the ownership of one thing for the ownership of another neither thing or both things being money only, the transaction is called an "exchange". A transfer of property in completion of an exchange can be made only in manner provided for the transfer of such property by sale.

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