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Under the Sale of Goods Act, 1930 which of these are not considered as goods?
- a)Immovable property
- b)Money
- c)Growing crops
- d)Stocks and shares
Correct answer is 'A'. Can you explain this answer?
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Under the Sale of Goods Act, 1930 which of these are not considered as...
Goods’ have been defined under 2(7) of the Sale of Goods Act, 1930, to include every kind of movable property, including stocks, shares, crops, grass, severable objects, etc. It is supplemented by the definitions of movable and immovable property under 3(36) and 3(26) of the General Clauses Act, 1897. This paper lays down certain dilemmas that have not been resolved despite the definitions and examines the case laws that may shed light on the same. It also examines the difference between English and Indian law on this issue. Primarily, it seeks to clarify whether certain commodities such as electricity, lottery tickets, software programs, money. etc can be included within the definition of “goods”.
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Under the Sale of Goods Act, 1930 which of these are not considered as...
Goods under the Sale of Goods Act, 1930
The Sale of Goods Act, 1930 governs the contracts relating to the sale of goods. According to this act, goods are defined as every kind of movable property other than actionable claims and money. The following are considered as goods under the Sale of Goods Act, 1930:
- Tangible Movable Property: All kinds of tangible movable property such as books, furniture, vehicles, and electronic gadgets are considered as goods.
- Intangible Movable Property: Intangible movable property such as patents, copyrights, and trademarks are also considered as goods.
- Growing Crops: Crops that are yet to be harvested are considered as goods.
- Stocks and Shares: Stocks and shares are also considered as goods since they represent ownership of a company.
What is not considered as goods?
Immovable Property, such as land and buildings, is not considered as goods under the Sale of Goods Act, 1930. This is because immovable property cannot be moved from one place to another. Immovable property is governed by the Transfer of Property Act, 1882. Money is also not considered as goods under this act since it is an actionable claim and not a tangible movable property.
Conclusion
In conclusion, the Sale of Goods Act, 1930 defines goods as every kind of movable property other than actionable claims and money. Immovable property and money are not considered as goods under this act. It is important to understand the definition of goods under this act to avoid any confusion while entering into contracts related to the sale of goods.
The Sale of Goods Act, 1930 governs the contracts relating to the sale of goods. According to this act, goods are defined as every kind of movable property other than actionable claims and money. The following are considered as goods under the Sale of Goods Act, 1930:
- Tangible Movable Property: All kinds of tangible movable property such as books, furniture, vehicles, and electronic gadgets are considered as goods.
- Intangible Movable Property: Intangible movable property such as patents, copyrights, and trademarks are also considered as goods.
- Growing Crops: Crops that are yet to be harvested are considered as goods.
- Stocks and Shares: Stocks and shares are also considered as goods since they represent ownership of a company.
What is not considered as goods?
Immovable Property, such as land and buildings, is not considered as goods under the Sale of Goods Act, 1930. This is because immovable property cannot be moved from one place to another. Immovable property is governed by the Transfer of Property Act, 1882. Money is also not considered as goods under this act since it is an actionable claim and not a tangible movable property.
Conclusion
In conclusion, the Sale of Goods Act, 1930 defines goods as every kind of movable property other than actionable claims and money. Immovable property and money are not considered as goods under this act. It is important to understand the definition of goods under this act to avoid any confusion while entering into contracts related to the sale of goods.
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Under the Sale of Goods Act, 1930 which of these are not considered as...
A) immovable property
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Under the Sale of Goods Act, 1930 which of these are not considered as goods?a)Immovable propertyb)Moneyc)Growing cropsd)Stocks and sharesCorrect answer is 'A'. Can you explain this answer?
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