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An agreement to sale becomes the contract of sale
- a)on a future specified date
- b)on the date of agreement
- c)prior to date of agreement
- d)none of these
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
An agreement to sale becomes the contract of salea)ona future specifie...
Agreement to Sale and Contract of Sale
An agreement to sale is a contract between two parties where one party agrees to sell a particular property or goods to the other party at a future date. The agreement to sale does not transfer the ownership of the property or goods to the buyer, but it only creates a right in favor of the buyer to purchase the property or goods at a future date.
On the other hand, a contract of sale is a contract between two parties where one party agrees to transfer the ownership of the property or goods to the other party in exchange for a price. Once a contract of sale is executed, the ownership of the property or goods is transferred from the seller to the buyer.
When Does an Agreement to Sale Become a Contract of Sale?
An agreement to sale becomes a contract of sale on a future specified date. This means that the contract of sale comes into existence only when the conditions mentioned in the agreement to sale are fulfilled, and the transfer of ownership takes place.
The following conditions must be fulfilled for an agreement to sale to become a contract of sale:
1. Payment of consideration: The buyer must pay the price or consideration mentioned in the agreement to sale to the seller.
2. Delivery of property or goods: The seller must deliver the property or goods to the buyer as per the terms mentioned in the agreement to sale.
3. Transfer of ownership: The ownership of the property or goods must be transferred from the seller to the buyer as per the terms mentioned in the agreement to sale.
Once all these conditions are fulfilled, the agreement to sale becomes a contract of sale, and the ownership of the property or goods is transferred from the seller to the buyer.
Conclusion
In conclusion, an agreement to sale is a contract between two parties where one party agrees to sell a particular property or goods to the other party at a future date. An agreement to sale becomes a contract of sale on a future specified date when the conditions mentioned in the agreement to sale are fulfilled, and the transfer of ownership takes place.
An agreement to sale is a contract between two parties where one party agrees to sell a particular property or goods to the other party at a future date. The agreement to sale does not transfer the ownership of the property or goods to the buyer, but it only creates a right in favor of the buyer to purchase the property or goods at a future date.
On the other hand, a contract of sale is a contract between two parties where one party agrees to transfer the ownership of the property or goods to the other party in exchange for a price. Once a contract of sale is executed, the ownership of the property or goods is transferred from the seller to the buyer.
When Does an Agreement to Sale Become a Contract of Sale?
An agreement to sale becomes a contract of sale on a future specified date. This means that the contract of sale comes into existence only when the conditions mentioned in the agreement to sale are fulfilled, and the transfer of ownership takes place.
The following conditions must be fulfilled for an agreement to sale to become a contract of sale:
1. Payment of consideration: The buyer must pay the price or consideration mentioned in the agreement to sale to the seller.
2. Delivery of property or goods: The seller must deliver the property or goods to the buyer as per the terms mentioned in the agreement to sale.
3. Transfer of ownership: The ownership of the property or goods must be transferred from the seller to the buyer as per the terms mentioned in the agreement to sale.
Once all these conditions are fulfilled, the agreement to sale becomes a contract of sale, and the ownership of the property or goods is transferred from the seller to the buyer.
Conclusion
In conclusion, an agreement to sale is a contract between two parties where one party agrees to sell a particular property or goods to the other party at a future date. An agreement to sale becomes a contract of sale on a future specified date when the conditions mentioned in the agreement to sale are fulfilled, and the transfer of ownership takes place.
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An agreement to sale becomes the contract of salea)ona future specifie...
Correct answer is option a
And AGREEMENT TO SALE means, Transfer of property in the goods from seller to buyer not immediately but on a future date on fulfilling certain conditions..
later it becomes contract of sale
And AGREEMENT TO SALE means, Transfer of property in the goods from seller to buyer not immediately but on a future date on fulfilling certain conditions..
later it becomes contract of sale
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An agreement to sale becomes the contract of salea)ona future specified dateb)onthe date of agreementc)prior to date of agreementd)none of theseCorrect answer is option 'A'. Can you explain this answer?
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An agreement to sale becomes the contract of salea)ona future specified dateb)onthe date of agreementc)prior to date of agreementd)none of theseCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about An agreement to sale becomes the contract of salea)ona future specified dateb)onthe date of agreementc)prior to date of agreementd)none of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An agreement to sale becomes the contract of salea)ona future specified dateb)onthe date of agreementc)prior to date of agreementd)none of theseCorrect answer is option 'A'. Can you explain this answer?.
An agreement to sale becomes the contract of salea)ona future specified dateb)onthe date of agreementc)prior to date of agreementd)none of theseCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about An agreement to sale becomes the contract of salea)ona future specified dateb)onthe date of agreementc)prior to date of agreementd)none of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An agreement to sale becomes the contract of salea)ona future specified dateb)onthe date of agreementc)prior to date of agreementd)none of theseCorrect answer is option 'A'. Can you explain this answer?.
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