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The term “goods” under Sale of Goods Act, 1930 does not include
- a)goodwill.
- b)actionable claims.
- c)stocks and shares.
- d)harvested crops.
Correct answer is option 'B'. Can you explain this answer?
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The term “goods” under Sale of Goods Act, 1930 does not in...
Goods under Sale of Goods Act, 1930
The Sale of Goods Act, 1930 is a law that regulates the sale of goods in India. According to this act, goods refer to every kind of moveable property, except money and actionable claims. The term ‘goods’ has been defined in section 2(7) of the Sale of Goods Act, 1930.
The goods under the Sale of Goods Act, 1930 do not include:
Goodwill - Goodwill is an intangible asset that represents the value of a business beyond its tangible assets. It is not considered as goods under the Sale of Goods Act, 1930.
Actionable Claims - An actionable claim is a right to claim a debt or any other money-related claim that can be enforced by legal action. It is not considered as goods under the Sale of Goods Act, 1930.
Stocks and Shares - Stocks and shares are securities that represent ownership in a company. They are not considered as goods under the Sale of Goods Act, 1930.
Harvested crops - Harvested crops are the agricultural produce that is ready for sale. They are not considered as goods under the Sale of Goods Act, 1930.
Conclusion
In conclusion, the term goods under Sale of Goods Act, 1930 does not include goodwill, actionable claims, stocks and shares, and harvested crops. These items are not considered as goods under this act.
The Sale of Goods Act, 1930 is a law that regulates the sale of goods in India. According to this act, goods refer to every kind of moveable property, except money and actionable claims. The term ‘goods’ has been defined in section 2(7) of the Sale of Goods Act, 1930.
The goods under the Sale of Goods Act, 1930 do not include:
Goodwill - Goodwill is an intangible asset that represents the value of a business beyond its tangible assets. It is not considered as goods under the Sale of Goods Act, 1930.
Actionable Claims - An actionable claim is a right to claim a debt or any other money-related claim that can be enforced by legal action. It is not considered as goods under the Sale of Goods Act, 1930.
Stocks and Shares - Stocks and shares are securities that represent ownership in a company. They are not considered as goods under the Sale of Goods Act, 1930.
Harvested crops - Harvested crops are the agricultural produce that is ready for sale. They are not considered as goods under the Sale of Goods Act, 1930.
Conclusion
In conclusion, the term goods under Sale of Goods Act, 1930 does not include goodwill, actionable claims, stocks and shares, and harvested crops. These items are not considered as goods under this act.
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Community Answer
The term “goods” under Sale of Goods Act, 1930 does not in...
Actionable claims are such claims which can be enforced only by an action or suit, e.g, debt.
Thus,actionable claims are not included in goods as per 'The sale of goods act, 1930'
Thus,actionable claims are not included in goods as per 'The sale of goods act, 1930'
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The term “goods” under Sale of Goods Act, 1930 does not includea)goodwill.b)actionable claims.c)stocks and shares.d)harvested crops.Correct answer is option 'B'. Can you explain this answer?
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