Nature And Formation Of Contract Of Sale
(88).jpg "Nature And Formation Of Contract Of Sale - Quiz")
__________________________________________________No. Of Questions to be Answered : Random 20 out of 112
Questions and Answers
- 1.
The legal provisions relating to the sate of movable goods are contained in
- A.
The Sale of Goods Act, 1930
- B.
The Indian Sale of Goods Act, 1S3C
- C.
The Sale of Goods Act, 1932
- D.
The Indian sale of Goods Act, 1932.
Correct Answer
A. The Sale of Goods Act, 1930Explanation
The correct answer is The Sale of Goods Act, 1930. This act contains the legal provisions relating to the state of movable goods. It provides regulations and guidelines for the sale and purchase of goods, including the transfer of ownership, warranties, and remedies for breach of contract. The act applies to transactions involving movable goods and aims to protect the rights of both buyers and sellers in such transactions.Rate this question:
-
- 2.
The sale of Goods Act, 1930 extends to
- A.
Whole of India
- B.
Whole of India except Jammu and Kashmir
- C.
Northern India
- D.
States notified form time to time.
Correct Answer
A. Whole of IndiaExplanation
The Sale of Goods Act, 1930 extends to the "Whole of India," which means it applies to all states and union territories in the country. It is a comprehensive piece of legislation that governs the sale of goods across India's geographical and political boundaries.Rate this question:
-
- 3.
The Sale of Goods Act came into force on
- A.
1st Mar, 1930
- B.
1st July, 1930
- C.
31st Mar 1930
- D.
31st July, 1930
Correct Answer
B. 1st July, 1930Explanation
The correct answer is 1st July, 1930. This date marks the day when the Sale of Goods Act was officially implemented. This act is a significant piece of legislation that governs the sale of goods in the United Kingdom. It outlines the rights and responsibilities of both buyers and sellers in a transaction and provides legal protection to consumers. The act covers various aspects such as the quality and fitness for purpose of goods, the transfer of ownership, and the remedies available in case of breach of contract.Rate this question:
-
- 4.
Prior to the passing of the Sale of Goods Act, 1930, the provisions relating to sale of a movable goods were contained in
- A.
The Transfer of Property Act, 1882
- B.
Sections 1 to 75 of the Indian Contract Act, 1872
- C.
Sections 76 to 123 of the Indian Contract Act, 1872
- D.
None of these.
Correct Answer
C. Sections 76 to 123 of the Indian Contract Act, 1872Explanation
The correct answer is Sections 76 to 123 of the Indian Contract Act, 1872. This is because prior to the passing of the Sale of Goods Act, 1930, the provisions relating to the sale of movable goods were contained in these sections of the Indian Contract Act, 1872. The Sale of Goods Act, 1930 was enacted to specifically govern the sale of goods and replaced these sections of the Indian Contract Act, 1872 in relation to the sale of goods.Rate this question:
-
- 5.
The Sale of Goods Act, 1930 deals with the
- A.
Movable goods only
- B.
Immovable goods only
- C.
Both movable and immovable-goods
- D.
All goods except ornaments.
Correct Answer
A. Movable goods onlyExplanation
The correct answer is "Movable goods only." The Sale of Goods Act, 1930 specifically focuses on the sale and purchase of movable goods. This means that the act does not cover immovable goods such as land or buildings. The act provides regulations and guidelines for the sale of goods that can be physically moved or transferred from one person to another. It ensures that buyers and sellers are protected and have legal remedies in case of any disputes or issues related to the sale of movable goods.Rate this question:
-
- 6.
The term 'contract of sale' is defined in which section of the Sale of Goods Act?
- A.
Section 2(1)
- B.
Section 3 (1)
- C.
Section 4(1)
- D.
None of these.
Correct Answer
C. Section 4(1)Explanation
The correct answer is Section 4(1). The term 'contract of sale' is defined in Section 4(1) of the Sale of Goods Act. This section provides a clear definition of what constitutes a contract of sale, which is an essential concept in the Act. Section 2(1) and Section 3(1) do not specifically define the term 'contract of sale', making them incorrect options. Therefore, the correct section that defines the term is Section 4(1).Rate this question:
-
- 7.
A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer to the buyer, for a price the
- A.
Possession of the goods
- B.
Property in the goods
- C.
Boxes of the goods
- D.
Both (a) and (b).
Correct Answer
B. Property in the goodsExplanation
In a contract of sale of goods, the seller agrees to transfer the property in the goods to the buyer. This means that the ownership and legal rights associated with the goods are transferred from the seller to the buyer. Possession of the goods refers to physical control or custody of the goods, which may or may not coincide with the transfer of property. Therefore, the correct answer is "Property in the goods".Rate this question:
-
- 8.
The term 'property' as used in the Sale of Good At means
- A.
Possession
- B.
Possession & ownership
- C.
Ownership
- D.
Subject matter of sale
Correct Answer
C. OwnershipExplanation
The term 'property' as used in the Sale of Goods Act refers to ownership. This means that when a person owns a property, they have the legal right to possess, use, and dispose of it as they see fit. Ownership is a key aspect in the sale of goods because it determines who has the right to transfer ownership of the goods to another party.Rate this question:
-
- 9.
Legally, the contract of sale includes
- A.
Sale
- B.
Agreement to sell
- C.
Barter
- D.
Both (a) and (b).
Correct Answer
D. Both (a) and (b).Explanation
The contract of sale legally includes both the sale and agreement to sell. The sale refers to the transfer of ownership of goods from the seller to the buyer for a price, while the agreement to sell refers to a contract where the ownership transfer will take place at a future date or upon certain conditions. Therefore, the correct answer is both (a) and (b).Rate this question:
-
- 10.
Legally, the term 'sale' is defined in
- A.
Section 4(1)
- B.
Section 4(2)
- C.
Section 4(3)
- D.
Section 4 (4)
Correct Answer
C. Section 4(3)Explanation
Section 4(3) is the correct answer because it defines the term 'sale' legally. This section provides the specific definition and conditions for a transaction to be considered a sale under the law. The other sections mentioned may also be relevant in the legal context, but they do not specifically define the term 'sale' as required in the question.Rate this question:
-
- 11.
Legally, the term 'agreement to sell' is defined in
- A.
Section 4(1)
- B.
Section 4(2)
- C.
Section 4(3)
- D.
Section 4 (4)
Correct Answer
C. Section 4(3) -
- 12.
In sale, the property in the goods is transferred to the buyer
- A.
At the time of contract
- B.
At some future time
- C.
At the desire of seller
- D.
On the payment of price.
Correct Answer
A. At the time of contractExplanation
In a sale, the property in the goods is transferred to the buyer at the time of contract. This means that as soon as the contract is formed between the buyer and the seller, the ownership of the goods is transferred to the buyer. This implies that the buyer now has the legal rights and responsibilities associated with the ownership of the goods, including the right to use, possess, and dispose of the goods. The transfer of property at the time of contract is a fundamental principle in the law of sales.Rate this question:
-
- 13.
In agreement to sell, the property in the goods is transferred to the buyer
- A.
At the time of contract
- B.
At some future time
- C.
At the desire of seller
- D.
On the payment of price.
Correct Answer
B. At some future time -
- 14.
Where property in the goods (i.e., legal ownership of the goods) is immediately transferred form the seller to the buyer, it is legally know as
- A.
Barter
- B.
Agreement to sell
- C.
Sale
- D.
Exchange of goods.
Correct Answer
C. SaleExplanation
The correct answer is "Sale." In a sale transaction, the property in the goods is immediately transferred from the seller to the buyer. This means that the legal ownership of the goods is transferred to the buyer at the time of the sale. This is different from other options such as barter, where goods are exchanged without the transfer of legal ownership, or an agreement to sell, where the transfer of ownership happens at a later point in time.Rate this question:
-
- 15.
Where under a contract of sale, the property in the property in the goods is to be transferred to the buyer on the fulfillment of certain condition, it is legally known as
- A.
Barter
- B.
Conditional sale
- C.
Sale
- D.
Agreement to sell.
Correct Answer
D. Agreement to sell.Explanation
In a contract of sale, if the transfer of property in the goods is subject to the fulfillment of certain conditions, it is legally referred to as an "Agreement to sell." This means that the seller agrees to transfer the ownership of the goods to the buyer upon the satisfaction of the specified conditions. It is different from a sale where the property in the goods is immediately transferred to the buyer.Rate this question:
-
- 16.
Where the property in the goods is to be transferred to the buyer at some future date, the contract of sale is known as
- A.
Barter
- B.
Conditional sale
- C.
Sale
- D.
None of these.
Correct Answer
D. None of these.Explanation
The correct answer is "Conditional sale." In a conditional sale, the property in the goods is to be transferred to the buyer at a future date, subject to certain conditions being met. This means that the transfer of ownership depends on the fulfillment of specific terms or events outlined in the contract of sale.Rate this question:
-
- 17.
In an agreement to sell, the property in the goods is transferred to the buyer at some future time and legally it is included in
- A.
Sale
- B.
Hire purchase agreement
- C.
Contract of sale
- D.
Executed agreement.
Correct Answer
C. Contract of saleExplanation
In an agreement to sell, the property in the goods is transferred to the buyer at some future time. This means that the ownership of the goods will be transferred to the buyer only when certain conditions are met, such as full payment or delivery of the goods. This type of agreement is legally known as a "contract of sale" as it involves the sale of goods with a future transfer of ownership. It differs from a sale where the property is immediately transferred to the buyer upon agreement.Rate this question:
-
- 18.
Legally, the 'sale' is included in
- A.
Agreement to sell
- B.
Hire purchase agreement
- C.
Contract of sale
- D.
Executed contract.
Correct Answer
C. Contract of saleExplanation
The correct answer is "Contract of sale". In legal terms, a contract of sale refers to an agreement between a buyer and a seller where the seller agrees to transfer ownership of a specific item or property to the buyer in exchange for a price. This type of contract is commonly used in various commercial transactions and is governed by specific laws and regulations. The other options listed, such as agreement to sell, hire purchase agreement, and executed contract, do not specifically encompass the concept of a sale as defined in a contract of sale.Rate this question:
-
- 19.
Where an agreement to sell provides that the ownership of the goods shall be transferred at some future date, it becomes sale
- A.
When that date arrives
- B.
After 30 days that date
- C.
After 60 days that date
- D.
None of these
Correct Answer
A. When that date arrivesExplanation
The given correct answer suggests that the ownership of the goods will be transferred when the agreed future date arrives. This implies that the agreement to sell will be considered a sale only when the specified date mentioned in the agreement is reached. Until that date arrives, the ownership of the goods remains with the seller.Rate this question:
-
- 20.
Where in an agreement to sell, the ownership of the goods is to be transferred on the fulfillment of some condition, the agreement to sell become sales
- A.
On the fulfillment of the conditions.
- B.
On the expiry of 30 days after conditions are fulfilled.
- C.
On the expiry of 60 days after the conditions are fulfilled.
- D.
None of these, as such a conditional agreement ever becomes sale.
Correct Answer
A. On the fulfillment of the conditions.Explanation
In an agreement to sell, the ownership of the goods is not immediately transferred. It is only transferred when certain conditions mentioned in the agreement are fulfilled. Therefore, the agreement becomes a sale when these conditions are fulfilled and ownership is transferred. The correct answer states that the agreement becomes a sale "On the fulfillment of the conditions," which accurately reflects the concept of a conditional agreement becoming a sale.Rate this question:
-
- 21.
A contract for the sale of 'future goods' is
- A.
Sale
- B.
Agreement to sell
- C.
Sale on approval
- D.
Hire-purchase
Correct Answer
B. Agreement to sellExplanation
A contract for the sale of 'future goods' refers to an agreement where the seller agrees to transfer ownership of goods to the buyer at a future date or upon the occurrence of a specific event. In this type of contract, the goods are not yet in existence or are not yet owned by the seller at the time of making the agreement. The agreement to sell is the appropriate term for such a contract, as it signifies the intention to transfer ownership in the future rather than an immediate sale.Rate this question:
-
- 22.
A contract for sale of goods which provides that the property would pass to the buyer on full payment of price and execution of the title documents, is known as
- A.
Sale
- B.
Sale on approval
- C.
Agreement to sell
- D.
Hire-purchase
Correct Answer
C. Agreement to sellExplanation
An agreement to sell is a contract for the sale of goods where the property will pass to the buyer upon full payment of the price and execution of the title documents. This means that although the buyer has agreed to purchase the goods, the transfer of ownership will only occur once the buyer has fulfilled their payment obligations and the necessary paperwork has been completed. This type of contract differs from a sale where the property passes immediately upon payment.Rate this question:
-
- 23.
Which of the following is not the essential element of a contract of sale?
- A.
There must be some goods as subject matter.
- B.
There must be some price for the goods.
- C.
There must be transfer of possession of goods.
- D.
There must be transfer of property in the goods.
Correct Answer
C. There must be transfer of possession of goods.Explanation
The essential elements of a contract of sale include the presence of goods as subject matter, a price for the goods, and the transfer of property in the goods. Transfer of possession of goods is not an essential element because it is possible for the possession to remain with the seller, such as in the case of a bailment or a consignment arrangement. The transfer of possession may occur at a later stage or may not occur at all, depending on the terms agreed upon by the parties involved.Rate this question:
-
- 24.
Which of the following is the essential requirement of a contract of sale?
- A.
All the requirements of a valid contract must be fulfilled.
- B.
There must be two parties to the contract of sale.
- C.
Both of these.
- D.
None of these.
Correct Answer
C. Both of these.Explanation
The essential requirement of a contract of sale is that all the requirements of a valid contract must be fulfilled, and there must be two parties to the contract of sale. Both of these conditions must be met for a contract of sale to be considered valid.Rate this question:
-
- 25.
A contract of sale made without consideration, is __________
- A.
Void
- B.
Voidable
- C.
Valid
- D.
None of these.
Correct Answer
A. VoidExplanation
A contract of sale made without consideration is void because consideration is an essential element of a valid contract. Consideration refers to something of value exchanged between the parties involved in the contract. Without consideration, there is no mutual exchange of benefits or obligations, rendering the contract unenforceable. Therefore, a contract of sale made without consideration is considered void.Rate this question:
-
- 26.
A contract of sale by a party not competent to contract, is _________
- A.
Void
- B.
Voidable
- C.
Valid
- D.
None of these.
Correct Answer
A. VoidExplanation
A contract of sale by a party not competent to contract is considered void. This means that the contract is not legally binding and has no legal effect. This is because a party who is not competent to contract, such as a minor or a person of unsound mind, lacks the legal capacity to enter into a contract. As a result, the contract is deemed invalid from the beginning and cannot be enforced by either party.Rate this question:
-
- 27.
A contract of sale in which consent of the buyer is obtained by fraud or fraud or misrepresentation, is
- A.
Void
- B.
Voidable
- C.
Valid
- D.
Unlawful
Correct Answer
B. VoidableExplanation
A contract of sale in which consent of the buyer is obtained by fraud or misrepresentation is voidable. This means that the buyer has the option to either affirm the contract or rescind it. The buyer can choose to continue with the contract if they wish, or they can choose to cancel the contract and seek remedies for the fraud or misrepresentation that occurred.Rate this question:
-
- 28.
A contract of sale is a contract for the sale of
- A.
Movable goods
- B.
Immovable goods
- C.
Both (a) and (b)
- D.
None of these.
Correct Answer
A. Movable goodsExplanation
A contract of sale is a legal agreement between two parties where one party agrees to transfer ownership of movable goods to the other party in exchange for payment. Movable goods refer to items that can be physically moved or transferred, such as vehicles, furniture, and electronics. This type of contract does not apply to immovable goods, which are properties or assets that cannot be easily moved, such as land or buildings. Therefore, the correct answer is "Movable goods."Rate this question:
-
- 29.
The subject matter of the contract of sale, other then the 'goods'. Can be
- A.
Money
- B.
Actionable goods
- C.
Both (a) and (b)
- D.
None of these.
Correct Answer
D. None of these.Explanation
The subject matter of a contract of sale refers to what is being exchanged between the buyer and seller. In this case, the options provided are money and actionable goods. However, the correct answer is "None of these" because the subject matter of a contract of sale can only be goods. Money is not considered a subject matter of a sale but rather a medium of exchange, and actionable goods are not relevant to the question.Rate this question:
-
- 30.
For the validity of a contract of sale, there must be transfer of
- A.
Possession of goods to the a buyer.
- B.
Custody of goods to the buyer.
- C.
Property in the goods to the buyer.
- D.
Possession and custody of goods to the buyer.
Correct Answer
C. Property in the goods to the buyer.Explanation
For a contract of sale to be valid, there must be a transfer of property in the goods to the buyer. This means that ownership and title of the goods must be transferred from the seller to the buyer. Possession and custody of the goods may or may not be transferred depending on the terms of the contract, but the transfer of property is essential for the validity of the sale.Rate this question:
-
- 31.
The expression 'property in goods' means the physical possession of goods.
- A.
True, as without physical possession there cannot be the ownership of goods.
- B.
False, as it means the ownership of goods which can be there without the physical possession.
Correct Answer
B. False, as it means the ownership of goods which can be there without the physical possession.Explanation
The statement is false because the expression "property in goods" refers to the ownership of goods, which can exist even without physical possession. Ownership of goods can be transferred or assigned to someone else without physically possessing the goods.Rate this question:
-
- 32.
A contract to sell new currency notes at premium to a person is ____________
- A.
Void
- B.
Voidable
- C.
Valid
- D.
None
Correct Answer
A. VoidExplanation
A contract to sell new currency notes at a premium to a person is void because it is against the law. Selling currency notes at a premium is considered illegal and goes against the principles of fair trade and currency regulations. Therefore, such a contract would be deemed void and unenforceable by law.Rate this question:
-
- 33.
Money consideration for the sale of goods is known as _______________
- A.
Consideration
- B.
Cash sale
- C.
Price
- D.
None of these.
Correct Answer
C. PriceExplanation
The correct answer is "Price". In the context of the sale of goods, the term "price" refers to the monetary value that is agreed upon between the buyer and seller as the consideration for the goods being sold. It represents the amount of money that the buyer has to pay in order to acquire the goods. The price is an essential element in any transaction involving the sale of goods, as it determines the financial value of the goods and is a key factor in determining the profitability of the seller.Rate this question:
-
- 34.
The consideration for a contract of sale is
- A.
Price
- B.
Buyer's promise
- C.
Seller's promise
- D.
Exchange of promises.
Correct Answer
A. PriceExplanation
The consideration for a contract of sale is the price. In a contract of sale, the price is the amount of money or something of value that the buyer agrees to pay to the seller in exchange for the goods or services being sold. It is an essential element of the contract as it represents the value of the transaction and is necessary for the agreement to be legally enforceable. Without a price, there would be no clear understanding of the terms of the sale and the obligations of the parties involved.Rate this question:
-
- 35.
The consideration for a contract of sale
- A.
Must be in terms of a money of sale
- B.
Most be 4n terms of valued up goods only.
- C.
May be partly in cash and partly in terms of valued up goods.
- D.
May be in any form as there is no specific requirement in this regard.
Correct Answer
C. May be partly in cash and partly in terms of valued up goods.Explanation
The consideration for a contract of sale may be partly in cash and partly in terms of valued up goods. This means that the payment for the sale can be made using a combination of cash and goods of value. It does not have to be solely in cash or solely in goods. This flexibility allows for negotiation and agreement between the buyer and seller on how the payment will be made, providing options that can benefit both parties involved.Rate this question:
-
- 36.
A delivered to B. 52 bullocks valued at Rs. 1,000 per bullock. In exchange of it, B delivered to A, 100 quintals of barley valued at Rs.300 per quintal and paid the difference in cash. This is
- A.
An exchange
- B.
A barter
- C.
Contract of sale
- D.
Exchange cum sale
Correct Answer
C. Contract of saleExplanation
The given scenario involves the exchange of goods (52 bullocks) for other goods (100 quintals of barley) and cash. This indicates a transaction where both parties agreed to sell and purchase goods and money was involved in the transaction. Therefore, the correct answer is "Contract of sale."Rate this question:
-
- 37.
A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash, in cash, it is
- A.
Contract of sale
- B.
Barter
- C.
Exchange
- D.
None
Correct Answer
A. Contract of saleExplanation
The given scenario describes a contract of sale. A contract of sale is an agreement between two parties, in this case, A and B, where one party agrees to transfer ownership of a particular item, in this case, A's old car, to the other party, in this case, B, in exchange for something of value, in this case, a new car. Additionally, A also agrees to pay the difference in cash, indicating that money is involved in the transaction. Therefore, the correct answer is contract of sale.Rate this question:
-
- 38.
35. Which of the following are not the essential elements of a contract of sale? (a) Movable goods and price. (b) Transfer of property in the goods. (c) Transfer of possession of goods (d) Three distinct parties i.e., buyer seller and guarantor.
- A.
(i), (ii)
- B.
(ii), (iii)
- C.
(iii), (iv)
- D.
(i), (iv)
Correct Answer
C. (iii), (iv)Explanation
The essential elements of a contract of sale include movable goods and price, transfer of property in the goods, and transfer of possession of goods. However, the presence of three distinct parties, i.e., buyer, seller, and guarantor, is not necessary for a contract of sale. Therefore, options (iii) and (iv) are not the essential elements of a contract of sale.Rate this question:
-
- 39.
A contract of sale is made by an
- A.
Offer to buy only
- B.
Offer to sell only
- C.
Offer to buy or sell
- D.
None of these.
Correct Answer
C. Offer to buy or sellExplanation
A contract of sale is made by an offer to buy or sell because in a sale transaction, both parties involved need to express their intention to either buy or sell the goods or services. The offer can come from either the buyer or the seller, and the contract is formed when one party accepts the offer made by the other party. Therefore, an offer to buy or sell is necessary for the creation of a contract of sale.Rate this question:
-
- 40.
A contract of sale is made by an offer to buy of sell by one person and its acceptance by another person.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
This statement is true because a contract of sale requires an offer to buy or sell from one person and the acceptance of that offer by another person. Both parties must agree on the terms and conditions of the sale for the contract to be valid.Rate this question:
-
- 41.
The modes of making a contract of sale are provided in which of the following section the Sale of a Goods Act, 1930?
- A.
Section 4(1)
- B.
Section 5(1)
- C.
Section 6(1)
- D.
Section 7(1)
Correct Answer
B. Section 5(1)Explanation
Section 5(1) of the Sale of Goods Act, 1930 provides the modes of making a contract of sale. This section outlines the various ways in which a contract of sale can be formed, such as through an agreement to sell, an actual sale, or a combination of both. It also covers important aspects such as the transfer of ownership, delivery of goods, and payment terms. By referring to Section 5(1), individuals can understand the legal requirements and procedures involved in entering into a contract of sale under the Sale of Goods Act, 1930.Rate this question:
-
- 42.
A contract of sale which provides for the immediate delivery of goods, but the payment of price at some future date, is a __________ contract of sale.
- A.
Valid
- B.
Void
- C.
Voidable
- D.
Forbidden
Correct Answer
A. ValidExplanation
A contract of sale which provides for the immediate delivery of goods, but the payment of price at some future date, is a valid contract of sale because it meets the essential requirements of a contract. The parties have agreed on the terms and conditions, including the delivery of goods and the future payment of the price. Both parties are legally bound by this agreement, and it can be enforced by law if necessary.Rate this question:
-
- 43.
A contract of sale which provides for the immediate payment of price, but delivery to be made at some future date, is a________ contract of sale.
- A.
Valid
- B.
Void
- C.
Voidable
- D.
Forbidden
Correct Answer
A. ValidExplanation
A contract of sale which provides for the immediate payment of price, but delivery to be made at some future date, is considered a valid contract of sale. This means that the contract is legally enforceable and binding on both parties involved. The agreement meets the essential requirements for a valid contract, including an offer, acceptance, consideration, and intention to create legal relations. Although delivery is postponed, the immediate payment of the price ensures that both parties have fulfilled their obligations under the contract.Rate this question:
-
- 44.
A contract of sale which provides for the immediate payment of price and immediate delivery of goods, is a
- A.
Valid
- B.
Void
- C.
Voidable
- D.
Forbidden
Correct Answer
A. ValidExplanation
A contract of sale that includes immediate payment of the price and immediate delivery of goods is considered valid. This means that both parties involved have willingly agreed to the terms and conditions of the contract, and there are no legal or ethical issues that would render the contract void or voidable. The contract is legally enforceable and both parties are obligated to fulfill their respective obligations as stated in the contract.Rate this question:
-
- 45.
A contract of sale which provides for the postponement of both the payment of price and delivery of goods, is a __________ contract of sale.
- A.
Void
- B.
Voidable
- C.
Valid
- D.
Invalid
Correct Answer
C. ValidExplanation
A contract of sale which provides for the postponement of both the payment of price and delivery of goods is considered a valid contract of sale. This means that the contract meets all the necessary legal requirements and is enforceable by law. The postponement of payment and delivery does not invalidate the contract as long as both parties have agreed to the terms and conditions outlined in the contract.Rate this question:
-
- 46.
A contract of sale which provides for the payment of price and the delivery of goods in instilment, is not a valid contract of sale.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because a contract of sale that includes provisions for the payment of price and the delivery of goods in installments can still be a valid contract of sale. The validity of a contract of sale is determined by meeting certain legal requirements, such as offer and acceptance, consideration, and an intention to create legal relations. As long as these requirements are fulfilled, the contract of sale remains valid, regardless of whether the payment and delivery are made in installments.Rate this question:
-
- 47.
As per Section 5(1) of the Sale of Goods Act, 1930, which of the following is a recongnised mode of a contact of sale?
- A.
The price and delivery of the goods may be postponed.
- B.
The price and delivery of the goods may be agreed to be made in installments.
- C.
The price and delivery of the goods may be agreed to be made immediately.
- D.
All of these.
Correct Answer
D. All of these.Explanation
Section 5(1) of the Sale of Goods Act, 1930 recognizes all of the mentioned options as valid modes of a contract of sale. According to this section, the price and delivery of the goods can be postponed, agreed to be made in installments, or agreed to be made immediately. Therefore, all of these options are recognized as valid modes of a contract of sale under the Sale of Goods Act, 1930.Rate this question:
-
- 48.
In which of the following modes, a contract of sale can be validly made?
- A.
There may be immediate delivery of goods, but the price to be paid at some future date.
- B.
There may be immediate payment of pnce, but the delivery of the goods to be made at some future date.
- C.
Both (a) and (b).
- D.
None of these.
Correct Answer
A. There may be immediate delivery of goods, but the price to be paid at some future date.Explanation
In a contract of sale, it is possible for there to be immediate delivery of goods, but the payment for those goods can be deferred to a future date. This means that the buyer receives the goods right away, but is not required to pay for them immediately. This type of arrangement is commonly seen in installment plans or credit agreements, where the buyer can enjoy the use of the goods while making payments over time. This option is valid because it allows for flexibility in the timing of payment while still ensuring that the buyer receives the goods.Rate this question:
-
- 49.
A contract of sale may be made in writing or by .words of mouth.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
A contract of sale can be made either in writing or orally. This means that it is possible for parties to enter into a valid contract of sale by expressing their agreement through spoken words, without the need for a written document. Therefore, the statement is true.Rate this question:
-
- 50.
A contract of sale may be made party in writing and partly by words of mouth.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
A contract of sale can be partially written and partially verbal. This means that some parts of the contract can be documented in writing, while other aspects can be agreed upon orally. This flexibility allows for negotiations and agreements to take place in a combination of written and spoken form, as long as the essential terms and conditions of the sale are clearly understood and agreed upon by both parties.Rate this question:
-
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Sep 15, 2023Quiz Edited by
ProProfs Editorial Team -
Aug 25, 2011Quiz Created by
Sweetsalman123
- Accounting Quizzes
- Agriculture Quizzes
- Automotive Quizzes
- Brand Quizzes
- Business Accounting Quizzes
- Business Analyst Quizzes
- Business Development Quizzes
- Business Environment Quizzes
- Business Etiquette Quizzes
- Business Finance Quizzes
- Business Math Quizzes
- Business Organization Quizzes
- Business Plan Quizzes
- Business Process Quizzes
- Business Study Quizzes
- Business Technology Quizzes
- CEO Quizzes
- Collaboration Quizzes
- Company Quizzes
- Construction Quizzes
- Consumer Quizzes
- CSR Quizzes
- Customer Quizzes
- Customer Service Quizzes
- Development Quizzes
- Ecommerce Quizzes
- Employment Quizzes
- Entrepreneurship Quizzes
- Hospitality Quizzes
- Human Resources Quizzes
- Industry Quizzes
- International Business Quizzes
- Introduction To Business Quizzes
- Logistics Quizzes
- Management Quizzes
- Manufacturing Quizzes
- Material Quizzes
- Media Quizzes
- Office Quizzes
- Organization Quizzes
- Principles Of Business Quizzes
- Printing Quizzes
- Product Quizzes
- Publishing Quizzes
- Real Estate Quizzes
- Retail Quizzes
- SAP Business One Quizzes
- Small Business Quizzes
- Source Quizzes
- Supply Quizzes
- Survey Quizzes
- Telecommunication Quizzes
- Trade Quizzes
- Training Quizzes
- Transportation Quizzes
- Warehouse Quizzes
- Welding Quizzes
Back to top