Passing of title or transfer of property constitutes the most important element to decide the legal rights and liabilities of _________.a)Seller onlyb)Buyer onlyc)Both seller and buyerd)None of the aboveCorrect answer is option 'C'. Can you explain this answer?

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Passing of title or transfer of property constitutes the most important element to decide the legal rights and liabilities of _________.

a)
Seller only
b)
Buyer only
c)
Both seller and buyer
d)
None of the above

Correct answer is option 'C'. Can you explain this answer?

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Most Upvoted Answer

Passing of title or transfer of property constitutes the most importan...

The passing of title or transfer of property is crucial in determining the legal rights and liabilities of both the seller and buyer. Here's why:

It signifies the moment when ownership of the goods shifts from the seller to the buyer.
The buyer gains the right to possess, use, and resell the goods.
The seller is relieved from the responsibility for the goods and entitled to payment.
Risks associated with the goods, such as damage or loss, typically transfer with the title.

Thus, it affects both parties, making option C the correct choice.

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Passing of title or transfer of property constitutes the most important element to decide the legal rights and liabilities of _________.a)Seller onlyb)Buyer onlyc)Both seller and buyerd)None of the aboveCorrect answer is option 'C'. Can you explain this answer?

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