CA Foundation Exam > CA Foundation Questions > If A agrees to deliver 100 kg of sugar to B i...
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If A agrees to deliver 100 kg of sugar to B in exchange of 15 mts of cloth, then it is
- a)Contract of sale.
- b)Barter.
- c)Sale on Approval.
- d)Agreement to sell.
Correct answer is option 'D'. Can you explain this answer?
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If A agrees to deliver 100 kg of sugar to B in exchange of 15 mts of c...
Explanation:
Agreement to sell is a type of contract in which the seller agrees to transfer the ownership of goods to the buyer at a later point in time, subject to certain conditions. In this case, A has agreed to deliver 100 kg of sugar to B, but the transfer of ownership will take place only when B pays A the agreed-upon amount or performs some other condition, such as giving A 15 mts of cloth in exchange.
Barter is a type of exchange in which goods or services are exchanged for other goods or services without the use of money. In this case, A is exchanging sugar for cloth, which makes it a barter transaction.
Contract of sale is a type of contract in which the ownership of goods is transferred from the seller to the buyer in exchange for money or other consideration. In this case, there is no transfer of ownership at the time of the agreement, so it cannot be considered a contract of sale.
Sale on approval is a type of sale in which the buyer has the right to return the goods within a specified period of time if they are not satisfied with them. In this case, there is no mention of any such condition, so it cannot be considered a sale on approval.
Therefore, the correct answer is option D, Agreement to sell.
Agreement to sell is a type of contract in which the seller agrees to transfer the ownership of goods to the buyer at a later point in time, subject to certain conditions. In this case, A has agreed to deliver 100 kg of sugar to B, but the transfer of ownership will take place only when B pays A the agreed-upon amount or performs some other condition, such as giving A 15 mts of cloth in exchange.
Barter is a type of exchange in which goods or services are exchanged for other goods or services without the use of money. In this case, A is exchanging sugar for cloth, which makes it a barter transaction.
Contract of sale is a type of contract in which the ownership of goods is transferred from the seller to the buyer in exchange for money or other consideration. In this case, there is no transfer of ownership at the time of the agreement, so it cannot be considered a contract of sale.
Sale on approval is a type of sale in which the buyer has the right to return the goods within a specified period of time if they are not satisfied with them. In this case, there is no mention of any such condition, so it cannot be considered a sale on approval.
Therefore, the correct answer is option D, Agreement to sell.
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If A agrees to deliver 100 kg of sugar to B in exchange of 15 mts of c...
When a seller agrees to hand goods that they own over to the buyer in exchange for money, this is called a contract of sale. Once the exchange is completed, it is simply called a sale. Before the sale is completed, but the intention to sell is present, it is known as an agreement to sell.
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If A agrees to deliver 100 kg of sugar to B in exchange of 15 mts of cloth, then it isa)Contract of sale.b)Barter.c)Sale on Approval.d)Agreement to sell.Correct answer is option 'D'. Can you explain this answer?
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