Transfer Of Ownership And Delivery Of Goods
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Ordinarily, the act appropriation is done by the seller because the goods are generally in his possession
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True
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False
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__________________________________________________ No. Of Questions to be Answered : Random 20 out of 117
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- 2.
The goods are said to be in a deliverable state when they are in such a condition that the buyer would, under the contract, be bound to take delivery of them.
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True
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False
Correct Answer
A. TrueExplanation
The statement is true because when goods are in a deliverable state, it means that they are in a condition that meets the requirements of the contract between the buyer and the seller. In this state, the buyer is obligated to accept and take delivery of the goods as agreed upon in the contract.Rate this question:
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- 3.
The general rule is that the transfer of ownership depends upon the intention of the parties.
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True, Section 19 contains a provision in this regard.
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False, no such provision is there in the Sale of Goods Act.
Correct Answer
A. True, Section 19 contains a provision in this regard.Explanation
The explanation for the given correct answer is that Section 19 of the Sale of Goods Act does indeed contain a provision regarding the transfer of ownership. This provision states that the transfer of ownership depends on the intention of the parties involved. Therefore, it is true that the transfer of ownership is determined by the intention of the parties, as stated in Section 19 of the Act.Rate this question:
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- 4.
The appropriation of goods is always done with the mutual consent of both, the seller and the buyer
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True
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False
Correct Answer
A. TrueExplanation
The statement implies that the appropriation of goods requires the agreement or consent of both the seller and the buyer. This means that both parties must agree on the transfer of ownership or possession of the goods. Therefore, the statement is true as it highlights the importance of mutual consent in the appropriation process.Rate this question:
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- 5.
A mercantile agent, owner, can transfer a valid bona fide buyer.
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True
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False
Correct Answer
A. TrueExplanation
A mercantile agent, who is the owner of the goods, has the authority to transfer ownership to a valid bona fide buyer. This means that the agent can sell the goods to a buyer who is acting in good faith and without knowledge of any defects or issues with the goods. This transfer of ownership is legally valid and binding. Therefore, the statement "A mercantile agent, owner, can transfer a valid bona fide buyer" is true.Rate this question:
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- 6.
Where no time of delivery of goods is specified in the contract , then the delivery of goods should be made within
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15 days
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30 days
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One month
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Reasonable time.
Correct Answer
A. Reasonable time.Explanation
When the contract does not specify a specific time of delivery for the goods, the delivery should be made within a reasonable time. This means that the seller should deliver the goods within a timeframe that is considered reasonable based on the circumstances of the contract. The determination of what is reasonable will depend on factors such as the nature of the goods, industry standards, and any specific agreements or customs that may apply.Rate this question:
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- 7.
In case of 'sale on approval' the . ownership of goods is transferred to the buyer when he
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True
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False
Correct Answer
A. TrueExplanation
In a "sale on approval" arrangement, the ownership of goods is transferred to the buyer when he takes possession of them. This means that once the buyer physically receives the goods, they become the owner, regardless of whether they decide to keep or return them. Therefore, the statement "True" is the correct answer.Rate this question:
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- 8.
In case the delivery of goods is delayed due to the fault of a party, then the goods shall be at the risk of defaulting party even though the ownership is With the other party.
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True, as there is a provision to this effect
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False, as it is against the general rule.
Correct Answer
A. True, as there is a provision to this effectExplanation
The correct answer is True, as there is a provision to this effect. This means that if the delivery of goods is delayed due to the fault of one party, even if the ownership of the goods is with the other party, the risk of any damage or loss to the goods will still be on the party at fault. This provision likely exists to ensure that the party responsible for the delay is held accountable for any potential risks or damages that may occur during the delay.Rate this question:
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- 9.
In case of sale on instalments, the intention of the parties is that the ownership should not be transferred until the last installment is paid
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True
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False
Correct Answer
A. TrueExplanation
In a sale on instalments, the intention of the parties involved is to ensure that ownership of the item being sold is not transferred until the final installment payment is made. This means that the buyer does not become the owner of the item until they have completed all of the required payments. This arrangement protects the seller's interests and ensures that they retain ownership until the buyer fulfills their financial obligations. Therefore, the statement "True" is correct.Rate this question:
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- 10.
The general rule in the contract of sale is that the risk prima facie passes with the ownership i.e., the risk and ownership go together.
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True
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False
Correct Answer
A. TrueExplanation
The explanation for the given correct answer is that in a contract of sale, the general rule is that the risk of loss or damage to the goods passes to the buyer along with the ownership. This means that once the buyer becomes the owner of the goods, they also assume the risk associated with it. This principle is known as "prima facie" which means that it is presumed to be true unless there is evidence to the contrary. Therefore, it is true that the risk and ownership go together in a contract of sale.Rate this question:
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- 11.
When in case of C.I.F. contracts the buyer refuses to take the shipping documents, the seller can claim damages for breach of contract.
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True
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False
Correct Answer
A. TrueExplanation
In C.I.F. (Cost, Insurance, and Freight) contracts, the seller is responsible for delivering the goods to the buyer's destination port and providing the necessary shipping documents. If the buyer refuses to accept these documents, it can be considered a breach of contract. The seller can then claim damages for this breach, as it prevents them from completing the transaction and receiving payment. Therefore, the statement is true.Rate this question:
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- 12.
Where the seller delivers the goods mixed with the goods of different description, the buyer may accept the contracted goods or reject the whole lot of goods.
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True, as it is the legal position on the point.
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False, as in case of missed delivery the buyer has no option but to reject the whole lot.
Correct Answer
A. True, as it is the legal position on the point.Explanation
The correct answer is True, as it is the legal position on the point. This means that if the seller delivers goods that are mixed with goods of a different description, the buyer has the right to either accept the contracted goods or reject the entire lot of goods. This is based on the legal principle that the buyer should receive the goods as described in the contract, and if there is a mixture of different goods, it may not meet the buyer's expectations or requirements. Therefore, the buyer has the option to reject the entire lot if the goods are not as per the contract.Rate this question:
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- 13.
The main object of a contract of sale is
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Transfer of ownership of goods to the buyer
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Transfer of possession of goods to the buyer.
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Payment of price of goods to the seller
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To help the seller in selling the goods.
Correct Answer
A. Transfer of ownership of goods to the buyerExplanation
In a contract of sale, the main objective is the transfer of ownership of goods to the buyer. This means that the seller transfers the legal rights and ownership of the goods to the buyer, making the buyer the rightful owner of the goods. This transfer of ownership is a fundamental aspect of a sale contract and distinguishes it from other types of contracts. It ensures that the buyer has the legal right to use, possess, and dispose of the goods as they see fit.Rate this question:
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- 14.
The term 'property' as used in the Sale of Goods Act, 1930 means
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Ownership
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Possession
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Custody
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Both (b) and (c).
Correct Answer
A. OwnershipExplanation
The term 'property' as used in the Sale of Goods Act, 1930 refers to ownership. This means that when a good is sold, the ownership of that good is transferred from the seller to the buyer. Possession and custody are related concepts but do not necessarily imply ownership. Possession refers to physically having control over the item, while custody refers to the responsibility of taking care of the item. Therefore, the correct answer is ownership, as it specifically refers to the transfer of rights and control over the goods.Rate this question:
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- 15.
The goods are at the risk of the party who has the
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Possession of goods.
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Ownership of goods.
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Capacity to beer loss.
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Custody of goods.
Correct Answer
A. Ownership of goods.Explanation
The correct answer is ownership of goods because the party who owns the goods is responsible for any risks or losses associated with them. Ownership entails the legal rights and responsibilities of possessing and controlling the goods.Rate this question:
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- 16.
The goods sold to the buyer should be delivered to him
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Within 15 days of contract.
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At specified time.
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Within 30 days of contract.
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At any time of seller's choice.
Correct Answer
A. At specified time.Explanation
The correct answer is "At specified time." This means that the goods should be delivered to the buyer at a specific time that has been agreed upon between the buyer and the seller. This ensures that both parties are aware of when the delivery will take place and can plan accordingly.Rate this question:
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- 17.
In case of 'sale on approval', the buyer must exercise his option to return the goods within _________ , if the goods do not serve his purpose.
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7 days
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15 days
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30 days
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Reasonable time.
Correct Answer
A. Reasonable time.Explanation
In the case of 'sale on approval', the buyer has the option to return the goods if they do not serve his purpose. The specific time frame within which the buyer must exercise this option is not mentioned. Instead, the buyer is expected to return the goods within a 'reasonable time'. This allows for flexibility, as the definition of a reasonable time can vary depending on the circumstances of the sale and the nature of the goods.Rate this question:
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- 18.
The party, who has__________ of goods, has to bear the loss in case of destruction of goods
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Custody
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Possession
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Ownership
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Control.
Correct Answer
A. OwnershipExplanation
In this context, "ownership" refers to the legal right and control over the goods. If someone is the owner of the goods, they are responsible for any loss or destruction of the goods. This means that they have the obligation to bear the financial consequences of any damage or loss that may occur. The concept of ownership implies a sense of responsibility and liability for the goods in question.Rate this question:
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- 19.
In case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. For the application of this rule, the goods must be
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Specific
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In a deliverable state
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Physically transferred to buyer
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Both (a) and (b).
Correct Answer
A. Both (a) and (b).Explanation
In the case of an unconditional contract of sale, the property passes to the buyer at the time of making the contract. This means that the buyer becomes the legal owner of the goods immediately, regardless of whether they have been physically delivered or are in a deliverable state. Therefore, for the application of this rule, the goods must meet both conditions: they must be specific and in a deliverable state. This ensures that the buyer assumes ownership and responsibility for the goods from the moment the contract is made.Rate this question:
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- 20.
The goods sold to the buyer should be delivered at
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Specified place.
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Any place of seller's choice.
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Any place of buyer's choice.
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Known place of the market.
Correct Answer
A. Specified place.Explanation
The correct answer is "Specified place." This means that the goods should be delivered to a location that is specifically agreed upon between the seller and the buyer. It could be a specific address or a predetermined location. This ensures that both parties are aware of where the goods will be delivered and eliminates any confusion or disputes regarding the delivery location.Rate this question:
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- 21.
The delivery of goods should
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Be voluntary and lawful.
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Have the effect of putting the goods in buyer's possession.
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Both of these.
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None of these.
Correct Answer
A. Both of these.Explanation
The correct answer is "Both of these." This means that the delivery of goods should be both voluntary and lawful, and it should also have the effect of putting the goods in the buyer's possession. In other words, the delivery should be done willingly and legally, and it should result in the buyer actually receiving and having control over the goods.Rate this question:
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- 22.
In case, of 'sale on approval' the buyer can return the goods if the goods do not serve his purpose, but he must exercise the option of returning the goods within
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7 days of sale.
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15 days of sale.
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30 days of sale.
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Reasonabletime.
Correct Answer
A. Reasonabletime.Explanation
The correct answer is "Reasonable time". In a sale on approval, the buyer has the right to return the goods if they do not serve his purpose. However, there is no specific time limit mentioned in the question for exercising the option of returning the goods. The time limit for returning the goods would depend on what is considered reasonable in the specific circumstances of the sale.Rate this question:
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- 23.
The term 'property' in good means_______ of goods.
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Ownership
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Possession
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Custody
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Control.
Correct Answer
A. OwnershipExplanation
The term 'property' in goods refers to ownership. Ownership implies having legal rights and control over the goods, including the ability to use, transfer, or dispose of them as one sees fit. Possession, custody, and control are related concepts but do not necessarily imply ownership. Possession refers to physically having the goods, custody refers to being entrusted with the goods, and control refers to having the power or authority to manage or direct the use of the goods.Rate this question:
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- 24.
The goods are at the risk of the buyer when the
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Ownership is transferred to him.
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Possession of the goods is given
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Seller refuses to bear the loss of goods.
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Seller reserves his right of disposal.
Correct Answer
A. Ownership is transferred to him.Explanation
When ownership of goods is transferred to the buyer, it means that the buyer becomes the legal owner of the goods. This implies that the buyer assumes all risks and responsibilities associated with the goods, including any loss or damage that may occur. Therefore, when the goods are at the risk of the buyer, it indicates that ownership has been transferred to him.Rate this question:
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- 25.
A clause in a contract of sale which provides that the ownership will pass to the buyer only on the payment of full price and in the meantime goods would remain with the seller but at the risk of buyer, is
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Valid and effective.
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Void and ineffective.
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Voidable.
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Against law
Correct Answer
A. Valid and effective.Explanation
This clause in a contract of sale is considered valid and effective because it clearly states that ownership of the goods will only transfer to the buyer upon full payment. In the meantime, the goods remain with the seller, but the risk is borne by the buyer. This arrangement is legally acceptable and enforceable as it establishes the conditions for ownership transfer and risk allocation between the parties involved in the contract.Rate this question:
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- 26.
The constructive delivery is also known as delivery by attornment
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True
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False
Correct Answer
A. TrueExplanation
The statement is true because constructive delivery is indeed another term for delivery by attornment. Constructive delivery refers to the transfer of possession of a property through a legal process, typically involving the tenant acknowledging a new landlord and agreeing to pay rent to them. This attornment can occur when there is a change in ownership or when a tenant's lease is assigned to a new landlord. Therefore, the answer is true.Rate this question:
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- 27.
The seller becomes entitled to recover the price of the goods when the
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Goods are delivered to the buyer.
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Ownership is transferred to the buyer.
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Seller is in need of money.
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Goods are valued in terms of money.
Correct Answer
A. Ownership is transferred to the buyer.Explanation
When ownership of the goods is transferred to the buyer, the seller becomes entitled to recover the price of the goods. This means that once the buyer assumes ownership, they are responsible for paying the agreed-upon price to the seller. This is a common practice in sales transactions, where ownership is a key factor in determining when payment is due.Rate this question:
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- 28.
The ownership of goods is transferred to the buyer at the time of making the contract only if the following condition is/are satisfied:
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The sale is of specific goods
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The goods are in a deliverable state
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The contract of sale is unconditional
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All of the above.
Correct Answer
A. All of the above.Explanation
The correct answer is "All of the above." This means that in order for the ownership of goods to be transferred to the buyer at the time of making the contract, all three conditions mentioned in the question must be satisfied. These conditions include the sale being of specific goods, the goods being in a deliverable state, and the contract of sale being unconditional. Only when all of these conditions are met, the ownership of goods is transferred to the buyer.Rate this question:
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- 29.
A buyer from a thief gets
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Limited title
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No title
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Conditional title
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Valid title
Correct Answer
A. No titleExplanation
The buyer from a thief gets no title because a thief does not have the legal right to transfer ownership of the stolen item. Therefore, the buyer cannot obtain a valid title for the item.Rate this question:
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- 30.
A contract for the sale of unascertained goods is an agreement to sell. It becomes sale when the goods are
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Ascertained
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Appropriated
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Delivered only
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Both (a) & (b)
Correct Answer
A. Both (a) & (b)Explanation
When a contract for the sale of unascertained goods is made, it is initially considered an agreement to sell. However, it becomes a sale when two conditions are met: (a) the goods are ascertained, meaning they are identified and specified, and (b) the goods are appropriated, which means they are set aside or allocated to the buyer. Therefore, both conditions (a) and (b) must be fulfilled for the agreement to become a sale. The option "Both (a) & (b)" correctly captures this requirement.Rate this question:
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- 31.
Where there is excess delivery of goods, then which of the following options is available to the buyer?
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He may reject the whole quantity.
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He may accept the whole quantity.
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He may accept the contract quantity and reject the excess.
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All of the above options are available to the buyer.
Correct Answer
A. All of the above options are available to the buyer.Explanation
When there is an excess delivery of goods, the buyer has multiple options available to them. They can choose to reject the whole quantity if they do not want any of the excess goods. Alternatively, they can accept the whole quantity if they are willing to keep all of the goods. Lastly, they also have the option to accept the contract quantity, which is the agreed upon amount, and reject only the excess goods. Therefore, all of the above options are available to the buyer in such a situation.Rate this question:
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- 32.
The goods are at the risk of the seller(i-e., in case of loss of goods he has to bear the loss). Until the
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Physical possession is handed over to the buyer.
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Goods are accepted by the buyer to be in good condition.
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Ownership of the goods is transferred to the buyer.
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Buyer refuse to bear the loss of goods.
Correct Answer
A. Ownership of the goods is transferred to the buyer.Explanation
The correct answer is "Ownership of the goods is transferred to the buyer." This means that once ownership of the goods is transferred to the buyer, the risk also transfers to the buyer. The seller is no longer responsible for any loss or damage to the goods. This is a common principle in sales transactions, where ownership and risk are often linked.Rate this question:
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- 33.
The Latin maxim 'nemo dat quod non habet' means that
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Only the seller has the right to sell the goods.
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No one can transfer a better title than he himself has.
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The buyer gets the better title then that of the seller.
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The seller can transfer a title only to the bonfire buyer.
Correct Answer
A. No one can transfer a better title than he himself has.Explanation
The Latin maxim 'nemo dat quod non habet' means that no one can transfer a better title than he himself has. This means that a person cannot transfer ownership or rights to something that they do not possess or have authority over. In other words, if someone does not have legal ownership or rights to sell a particular good, they cannot transfer those ownership or rights to another person. This principle protects buyers from purchasing goods that may be subject to disputes or claims from other parties.Rate this question:
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- 34.
In case of an agreement to sell, where no palace for delivery of goods is specified in the contract, the goods sold are to be delivered at the place.
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Of buyer's choice.
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At which they are at the time of agreement to sell.
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Of seller's choice.
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At which buyer will be residing at the time of agreement to sell.
Correct Answer
A. At which they are at the time of agreement to sell.Explanation
In an agreement to sell, if no place for delivery of goods is specified in the contract, the goods are to be delivered at the place where they are located at the time of the agreement to sell. This means that the buyer has the responsibility to collect the goods from the location where they are currently situated. The seller is not obligated to choose a specific place for delivery, and the buyer's choice or the place where the buyer will be residing is not relevant in this context.Rate this question:
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- 35.
The goods are at the risk of a party who has the
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Possession of goods.
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Custody of goods.
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Ownership of goods.
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Both (a) and (b).
Correct Answer
A. Ownership of goods.Explanation
The correct answer is ownership of goods. When a party owns the goods, they bear the risk associated with it. This means that if any damage or loss occurs to the goods, the owner will be responsible for it. On the other hand, possession refers to physical control or holding of the goods, while custody refers to the care and protection of the goods. Although possession and custody may involve some level of responsibility, the ultimate risk lies with the owner. Therefore, ownership of goods is the determining factor for risk.Rate this question:
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- 36.
While delivering the goods to a carrier, in which of the following cases, the seller is I presumed to have reserved his right of disposal ?
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Where he takes documents of title in his own name.
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Where along with the documents of title, he also sends the bill of exchange for price.
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Both of these.
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None of these.
Correct Answer
A. Both of these.Explanation
In both cases mentioned, the seller is presumed to have reserved his right of disposal. When the seller takes documents of title in his own name, it indicates that he still has control over the goods and can dispose of them as he wishes. Similarly, when the seller sends the bill of exchange for the price along with the documents of title, it suggests that he has not transferred ownership of the goods yet and can still exercise his right to dispose of them. Therefore, in both scenarios, the seller is presumed to have reserved his right of disposal.Rate this question:
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- 37.
Where there is short delivery i.e., the seller delivers a less quantity of goods than the contracted. Then the buyer
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May reject the goods.
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May accept the short delivery.
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Must accept the short delivery.
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Either (a) or (b).
Correct Answer
A. Either (a) or (b).Explanation
When there is a short delivery, the buyer has the option to either reject the goods or accept the short delivery. This means that the buyer can choose to refuse the goods completely or accept them despite the quantity being less than agreed upon. Therefore, the correct answer is either (a) or (b).Rate this question:
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- 38.
Where the specific goods are in a deliverable state but the seller has to do some act to ascertain the price, the property in the goods is transferred to the buyer when the
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Seller does that act.
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Buyer comes to know about the same.
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Both (a) and (b).
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Only (a).
Correct Answer
A. Both (a) and (b).Explanation
In this scenario, the property in the goods is transferred to the buyer when the seller does the act to ascertain the price. This means that once the seller performs the necessary action to determine the price of the goods, ownership of the goods is transferred to the buyer. Additionally, the buyer also needs to be aware of this transfer of ownership, which is indicated by the buyer coming to know about the same. Therefore, both (a) and (b) are correct.Rate this question:
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- 39.
The appropriation of goods may be done
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Only by the seller with the consent of the buyer.
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Either by the seller with the consent of the buyer.
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Either by the buyer with the consent of the seller.
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Both (b) and (c).
Correct Answer
A. Both (b) and (c).Explanation
The correct answer is "Both (b) and (c)." This means that the appropriation of goods can be done either by the seller with the consent of the buyer or by the buyer with the consent of the seller. In other words, both parties have the ability to agree on the appropriation of goods, and it can be initiated by either the seller or the buyer, as long as there is mutual consent.Rate this question:
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- 40.
The 'sale on approval' means the sale in which the buyer may return the goods if
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He is incapable of paying the price
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He is not satisfied with seller's behavior.
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The goods do not serve his purpose.
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The seller fails to give special discount on acceptance of goods.
Correct Answer
A. The goods do not serve his purpose.Explanation
The correct answer is "The goods do not serve his purpose." In a sale on approval, the buyer has the right to return the goods if they do not meet their intended purpose or if they are not suitable for the buyer's needs. This allows the buyer to test the goods and determine if they are suitable before committing to the purchase.Rate this question:
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- 41.
Sale by which of the following persons is valid even if he is not the owner?
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Pawnee
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Finder of goods
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Mercantile agent
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AII of these.
Correct Answer
A. AII of these.Explanation
The correct answer is "AII of these." This means that all three persons mentioned in the options (Pawnee, Finder of goods, and Mercantile agent) can make a valid sale even if they are not the owner of the goods. This could be due to legal provisions that allow these individuals to sell goods on behalf of the owner or in certain circumstances where ownership rights are transferred.Rate this question:
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- 42.
The legal provisions relating to transfer of ownership in case of sale of specific goods, are contained in
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Section 17 to 19
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Section 20 to 22
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Section 23
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Section 24.
Correct Answer
A. Section 20 to 22Explanation
The correct answer is Section 20 to 22. These sections contain the legal provisions relating to the transfer of ownership in the case of the sale of specific goods. These provisions outline the conditions and requirements for the transfer of ownership, including the passing of property, delivery of goods, and the rights and obligations of both the buyer and the seller.Rate this question:
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- 43.
A agreed to sell to B 100 bottles of oil to be produced by him. A filled the 100 bottles and informed B about the same. B took delivery of 30 bottles and promised to take the delivery of the rest after one week. Before B could take delivery, the oil was destroyed in a fire. In this case, the loss falls upon the.
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Seller
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Buyer
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Both in equal shares
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Both in the ratio of 30:70
Correct Answer
A. BuyerExplanation
The buyer, B, is responsible for the loss in this case because they took delivery of 30 bottles of oil before the fire occurred. Once the buyer takes possession of the goods, they assume the risk of any damage or loss that may occur. Therefore, B is liable for the loss of the remaining bottles of oil.Rate this question:
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- 44.
In which of the following cases, the general rule that the risk passes with the ownership is not applicable?
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Agreement between the parties stating the party to bear the loss.
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Defaulting party to bear the loss.
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Trade customs providing otherwise.
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All of these.
Correct Answer
A. All of these.Explanation
In all of the given cases, the general rule that the risk passes with the ownership is not applicable. In the first case, if there is an agreement between the parties stating that a specific party will bear the loss, then the risk does not pass with ownership. In the second case, if the defaulting party is required to bear the loss, then the risk does not pass with ownership. Lastly, if trade customs provide otherwise, then the general rule does not apply. Therefore, in all of these cases, the risk does not pass with ownership.Rate this question:
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- 45.
In contract of sale, the seller is
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Bound to deliver the goods without any demand of delivery form the buyer.
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Not bound to deliver the goods unless the buyer makes a demand for delivery of goods.
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Guilty of breach of contract if he does not deliver the goods of his own.
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Liable to pay damages for not delivering the goods without demand.
Correct Answer
A. Not bound to deliver the goods unless the buyer makes a demand for delivery of goods.Explanation
The correct answer is "Not bound to deliver the goods unless the buyer makes a demand for delivery of goods." This means that the seller is not obligated to deliver the goods unless the buyer specifically requests it. In a contract of sale, the seller is not automatically required to deliver the goods without any demand from the buyer. The buyer must initiate the request for delivery, and only then is the seller obligated to fulfill the delivery.Rate this question:
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- 46.
The delivery of contract quality goods to a carrier operates as transfer of ownership to the buyer if the
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Goods are delivered to a carrier for the purposes of transmission to the buyer.
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Seller delivers the goods to carrier without reserving the right of disposal.
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Both (a) and (b).
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Either (a) or (b).
Correct Answer
A. Both (a) and (b).Explanation
Both (a) and (b) are correct because according to the given information, the delivery of contract quality goods to a carrier operates as a transfer of ownership to the buyer if the goods are delivered to a carrier for transmission to the buyer and if the seller delivers the goods to the carrier without reserving the right of disposal. Both of these conditions need to be met for the transfer of ownership to occur.Rate this question:
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- 47.
In which of the following contracts, the seller is under an obligation to insure the goods?
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Ex-ship contract
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F.O.B. Contract
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Insurance obligatory contract
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Ex-ship contract
Correct Answer
A. Insurance obligatory contractExplanation
In an insurance obligatory contract, the seller is obligated to insure the goods. This means that the seller is responsible for obtaining insurance coverage for the goods during transit. This type of contract provides protection for both the buyer and the seller, as it ensures that the goods are covered in case of any damage or loss during transportation. The other options, such as ex-ship contract and F.O.B. contract, do not specifically require the seller to provide insurance for the goods.Rate this question:
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- 48.
A delivered a house to B on 'sale or return'basis.It was agreed that B should try it for 8 days and then return If is did not serve his purpose. The horse died on the 3rd day without any fault of B. In this case, the loss shall fall on the owner i.e.
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Seller
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Buyer
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Both in equal shares
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Government
Correct Answer
A. SellerExplanation
In this case, the loss shall fall on the seller because the agreement was made on a "sale or return" basis. This means that the seller bears the risk of any loss or damage to the item during the trial period. Since the horse died on the 3rd day without any fault of the buyer, it is the seller's responsibility to bear the loss.Rate this question:
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- 49.
Handing over the gods to the buyer amounts to
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Actual delivery
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Symbolic delivery
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Constructive delivery
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None of these.
Correct Answer
A. Actual deliveryExplanation
Handing over the gods to the buyer amounts to actual delivery. Actual delivery refers to the physical transfer of goods from the seller to the buyer. In this case, when the gods are handed over, it means that they are physically given to the buyer, signifying the completion of the transaction and the transfer of ownership. This is different from symbolic delivery, which represents the transfer of ownership through symbolic actions or gestures, and constructive delivery, which implies the transfer of ownership without the physical transfer of goods.Rate this question:
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Mar 21, 2023Quiz Edited by
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Aug 27, 2011Quiz Created by
Sweetsalman123