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Problem: A delivers bags of cements to B on ‘Sale on approval basis’ for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.
Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:
- a)A, because the ownership has not passed to B.
- b)A, because ten days has elapsed.
- c)A, because the agreement has become void.
- d)B, because the ownership has passed to B.
Correct answer is option 'D'. Can you explain this answer?
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Problem: A delivers bags of cements to B on Sale on approval basis for...
Explanation:
Introduction: The given problem involves a sale on approval basis, where A delivers bags of cement to B for a period of 10 days. The ownership of the goods has not yet passed to B, and B has the right to either accept or reject the goods within the stipulated time frame. However, due to heavy rainfall, the cement became stone on the fifth day itself, without any fault of B. The question is who shall bear the loss if B neither returns nor rejects the bags till the tenth day, and eventually, the damage occurs on the eleventh day.
Analysis: To solve this problem, we need to understand the concept of sale on approval basis and the passing of ownership.
Sale on Approval Basis: In a sale on approval basis, the goods are delivered to the buyer for inspection and approval, and the ownership of the goods does not pass until the buyer accepts the goods. The buyer has the right to either accept or reject the goods within the stipulated time frame.
Passing of Ownership: The ownership of the goods passes from the seller to the buyer when the parties intend it to pass. In the absence of an agreement between the parties, the ownership passes when the goods are delivered to the buyer.
Solution: In this case, the ownership of the cement bags has not yet passed to B as the sale was on approval basis. B has the right to either accept or reject the bags within the stipulated time frame of 10 days. However, due to heavy rainfall, the cement became stone on the fifth day itself, without any fault of B.
If B had returned or rejected the bags before the damage occurred, then the loss would have been borne by A. However, if B neither returns nor rejects the bags till the tenth day, then the ownership of the bags would pass to B.
In this case, the damage occurred on the eleventh day, which means that the ownership of the bags had already passed to B. Therefore, B shall bear the loss as the ownership of the bags had passed to B, and the damage occurred after the passing of ownership.
Conclusion: In a sale on approval basis, the ownership of the goods does not pass until the buyer accepts the goods. If the buyer neither returns nor rejects the goods within the stipulated time frame, then the ownership of the goods would pass to the buyer. In this case, as the damage occurred after the passing of ownership, B shall bear the loss.
Introduction: The given problem involves a sale on approval basis, where A delivers bags of cement to B for a period of 10 days. The ownership of the goods has not yet passed to B, and B has the right to either accept or reject the goods within the stipulated time frame. However, due to heavy rainfall, the cement became stone on the fifth day itself, without any fault of B. The question is who shall bear the loss if B neither returns nor rejects the bags till the tenth day, and eventually, the damage occurs on the eleventh day.
Analysis: To solve this problem, we need to understand the concept of sale on approval basis and the passing of ownership.
Sale on Approval Basis: In a sale on approval basis, the goods are delivered to the buyer for inspection and approval, and the ownership of the goods does not pass until the buyer accepts the goods. The buyer has the right to either accept or reject the goods within the stipulated time frame.
Passing of Ownership: The ownership of the goods passes from the seller to the buyer when the parties intend it to pass. In the absence of an agreement between the parties, the ownership passes when the goods are delivered to the buyer.
Solution: In this case, the ownership of the cement bags has not yet passed to B as the sale was on approval basis. B has the right to either accept or reject the bags within the stipulated time frame of 10 days. However, due to heavy rainfall, the cement became stone on the fifth day itself, without any fault of B.
If B had returned or rejected the bags before the damage occurred, then the loss would have been borne by A. However, if B neither returns nor rejects the bags till the tenth day, then the ownership of the bags would pass to B.
In this case, the damage occurred on the eleventh day, which means that the ownership of the bags had already passed to B. Therefore, B shall bear the loss as the ownership of the bags had passed to B, and the damage occurred after the passing of ownership.
Conclusion: In a sale on approval basis, the ownership of the goods does not pass until the buyer accepts the goods. If the buyer neither returns nor rejects the goods within the stipulated time frame, then the ownership of the goods would pass to the buyer. In this case, as the damage occurred after the passing of ownership, B shall bear the loss.
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Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer?
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Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer?.
Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer?.
Solutions for Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Here you can find the meaning of Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Problem: A delivers bags of cements to B on Sale on approval basis for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:a)A, because the ownership has not passed to B.b)A, because ten days has elapsed.c)A, because the agreement has become void.d)B, because the ownership has passed to B.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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