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TRANSFER OF PROPERTY
Page 2


TRANSFER OF PROPERTY
Introduction
According to the Transfer of 
Property  Act  1882, 
“Transfer of Property“ means an act by 
which a person conveys property to one or 
more persons. The act of transfer may be 
done in the present or for the future. The 
person may include an individual, company 
or association or body of individuals, and any 
kind of property may be transferred, including 
the transfer of immovable property.
Page 3


TRANSFER OF PROPERTY
Introduction
According to the Transfer of 
Property  Act  1882, 
“Transfer of Property“ means an act by 
which a person conveys property to one or 
more persons. The act of transfer may be 
done in the present or for the future. The 
person may include an individual, company 
or association or body of individuals, and any 
kind of property may be transferred, including 
the transfer of immovable property.
Transfer of property
? Sale is the first step in the “ 
TRANSFER OF PROPERTY IN 
GOODS “ by the seller to the buyer.
? The Phrase “ TRANSFER OF 
PROPERTY IN GOODS “ means 
Transfer of ownership of the Goods 
from one person to another.
Page 4


TRANSFER OF PROPERTY
Introduction
According to the Transfer of 
Property  Act  1882, 
“Transfer of Property“ means an act by 
which a person conveys property to one or 
more persons. The act of transfer may be 
done in the present or for the future. The 
person may include an individual, company 
or association or body of individuals, and any 
kind of property may be transferred, including 
the transfer of immovable property.
Transfer of property
? Sale is the first step in the “ 
TRANSFER OF PROPERTY IN 
GOODS “ by the seller to the buyer.
? The Phrase “ TRANSFER OF 
PROPERTY IN GOODS “ means 
Transfer of ownership of the Goods 
from one person to another.
Transfer of property(contd..)
? Property in Goods is different from 
Possession of Goods.
? Possession of Goods refers to the 
custody over the Goods whereas 
Property in Goods means ownership 
over the Goods.
Page 5


TRANSFER OF PROPERTY
Introduction
According to the Transfer of 
Property  Act  1882, 
“Transfer of Property“ means an act by 
which a person conveys property to one or 
more persons. The act of transfer may be 
done in the present or for the future. The 
person may include an individual, company 
or association or body of individuals, and any 
kind of property may be transferred, including 
the transfer of immovable property.
Transfer of property
? Sale is the first step in the “ 
TRANSFER OF PROPERTY IN 
GOODS “ by the seller to the buyer.
? The Phrase “ TRANSFER OF 
PROPERTY IN GOODS “ means 
Transfer of ownership of the Goods 
from one person to another.
Transfer of property(contd..)
? Property in Goods is different from 
Possession of Goods.
? Possession of Goods refers to the 
custody over the Goods whereas 
Property in Goods means ownership 
over the Goods.
Importance of transfer of 
property
? Risk follows ownership
? if property has passed to the buyer, 
he becomes the owner of the goods 
and then the risk of destruction, 
damage or loss.
? Action against third parties
? if goods are damaged by action of 
third parties, only owner of goods can 
take the action.
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33 videos|59 docs|18 tests

FAQs on PPT - Transfer of Property in goods - Business Law - B Com

1. What is transfer of property in goods?
Ans. Transfer of property in goods refers to the process by which the ownership of goods is legally transferred from one person to another. It involves the passing of the title to the goods from the seller to the buyer.
2. What are the different modes of transfer of property in goods?
Ans. The different modes of transfer of property in goods include: 1. Sale: Transfer of ownership in exchange for a price. 2. Gift: Transfer of ownership without any consideration. 3. Bailment: Transfer of possession with the intention to return the goods. 4. Exchange: Transfer of ownership by mutual agreement to exchange goods. 5. Hire-purchase: Transfer of ownership upon completion of installment payments.
3. What is the significance of transfer of property in goods?
Ans. The transfer of property in goods is significant because it determines the rights and obligations of the parties involved. It establishes who has ownership and control over the goods, and it also determines when the risks and rewards associated with the goods pass from the seller to the buyer.
4. What are the essential elements for the transfer of property in goods to be valid?
Ans. The essential elements for the transfer of property in goods to be valid include: 1. Agreement: There must be an agreement between the buyer and the seller for the transfer of ownership. 2. Goods: The subject matter of the transfer must be specific goods. 3. Price: There must be a consideration or price for the transfer. 4. Intention: Both parties must have the intention to transfer the ownership of the goods. 5. Delivery: The goods must be physically delivered or made available for the buyer to take possession.
5. What is the effect of transfer of property in goods on risk and title?
Ans. The transfer of property in goods has a significant effect on risk and title. Once the property is transferred, the buyer becomes the owner of the goods and bears the risk associated with them. The seller no longer has any ownership or control over the goods. Additionally, the buyer can now transfer the title to a third party if desired.
33 videos|59 docs|18 tests
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