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A contract, where the possession of goods is transferred by one party to the other for a specific purpose and as and when the purpose is accomplished, the goods are delivered back, is called
  • a)
    sale
  • b)
    bailment
  • c)
    hire purchase
  • d)
    agreement to sell
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
A contract, where the possession of goods is transferred by one party ...
Bailment is a contract in which goods are delivered from one person to another person for a particular purpose. But the ownership is not transferred. The goods have to be either returned or disposed as directed by the person one who gives it
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A contract, where the possession of goods is transferred by one party ...
Bailment
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A contract, where the possession of goods is transferred by one party to the other for a specific purpose and as and when the purpose is accomplished, the goods are delivered back, is calleda)saleb)bailmentc)hire purchased)agreement to sellCorrect answer is option 'B'. Can you explain this answer?
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