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Under the Sale of Goods Act, 1930, the seller in a contract of sale transfers the _____ in the goods to the buyer for the price.
- a)Possession
- b)Control
- c)Rights
- d)Property
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Under the Sale of Goods Act, 1930, the seller in a contract of sale tr...
Sale of Goods Act, 1930
The Sale of Goods Act, 1930 is a legislation that governs the sale of goods in India. It outlines the rights and responsibilities of both the seller and the buyer in a contract of sale.
Transfer of Property in Goods
According to the Sale of Goods Act, 1930, the seller transfers the property in the goods to the buyer for the price. This means that ownership of the goods is transferred from the seller to the buyer.
Options
- Possession: Possession refers to physical control or custody of the goods. While possession may be transferred from the seller to the buyer, it does not necessarily imply transfer of ownership.
- Control: Control refers to the ability to exercise authority or influence over the goods. Control may be exercised by the buyer, but it does not necessarily imply transfer of ownership.
- Rights: Rights may include various legal entitlements associated with the goods, such as the right to use, sell, or dispose of them. However, rights alone do not imply transfer of ownership.
- Property: Property refers to ownership or title to the goods. The transfer of property in the goods is the key concept in a contract of sale. It indicates the transfer of ownership from the seller to the buyer.
Answer: D - Property
Therefore, under the Sale of Goods Act, 1930, the seller transfers the property in the goods to the buyer for the price.
Most Upvoted Answer
Under the Sale of Goods Act, 1930, the seller in a contract of sale tr...
Property refers to ownership. Ownership is transferred when you buy goods
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Community Answer
Under the Sale of Goods Act, 1930, the seller in a contract of sale tr...
Because goods are the property for the seller and hence he transfers his property.....
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Under the Sale of Goods Act, 1930, the seller in a contract of sale transfers the _____ in the goods to the buyer for the price.a)Possessionb)Controlc)Rightsd)PropertyCorrect answer is option 'D'. Can you explain this answer?
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