New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    According to Sale of Goods Act, 1930,  which of the

    following is false about contract of sale?
    A A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price Correct Answer Incorrect Answer
    B A contract of sale may be absolute or conditional Correct Answer Incorrect Answer
    C The transfer of the property in the goods takes place at a future time or subject to some condition thereafter to be fulfilled Correct Answer Incorrect Answer
    D An agreement to, sell becomes a sale when the time elapses or the conditions are fulfilled subject to which the property in the goods is to be transferred Correct Answer Incorrect Answer
    E The property in the goods is transferred from the seller to the buyer Correct Answer Incorrect Answer

    Solution

    Section 4 of Sale of Goods Act, 1930(1) A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another. (2) A contract of sale may be absolute or conditional. (3) Where under a contract of sale the property in the goods is transferred from the seller to the buyer, the contract is called a sale, but where the transfer of the property in the goods is to take place at a future time or subject to some condition thereafter to be fulfilled, the contract is called an agreement to sell. (4) An agreement to, sell becomes a sale when the time elapses or the conditions are fulfilled subject to which the property in the goods is to be transferred.

    Practice Next

    Relevant for Exams: