Under the Sale of Goods Act, 1930, in a contract of sale the essential element is : 
  • a)
    Exchange of goods 
  • b)
    Price 
  • c)
    Promise to produce goods 
  • d)
    None of the above
Correct answer is option 'B'. Can you explain this answer?

CA Foundation Question

Amit Ahlawat
Jun 09, 2018
A contract of goods is a contract whereby the seller transfers or agrees to transfer the property to goods to the buyer for a price. There may be a contract of sale between one part-owner and another [Sec. 4(1)]. A contract of sale may be absolute or conditional [Sec 4(2)].The term ‘contract of sale’ is a generic term and includes both a sale and an agreement to sell.

This discussion on Under the Sale of Goods Act, 1930, in a contract of sale the essential element is :a)Exchange of goodsb)Pricec)Promise to produce goodsd)None of the aboveCorrect answer is option 'B'. Can you explain this answer? is done on EduRev Study Group by CA Foundation Students. The Questions and Answers of Under the Sale of Goods Act, 1930, in a contract of sale the essential element is :a)Exchange of goodsb)Pricec)Promise to produce goodsd)None of the aboveCorrect answer is option 'B'. Can you explain this answer? are solved by group of students and teacher of CA Foundation, which is also the largest student community of CA Foundation. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for CA Foundation on EduRev and even discuss your questions like Under the Sale of Goods Act, 1930, in a contract of sale the essential element is :a)Exchange of goodsb)Pricec)Promise to produce goodsd)None of the aboveCorrect answer is option 'B'. Can you explain this answer? over here on EduRev! Apart from being the largest CA Foundation community, EduRev has the largest solved Question bank for CA Foundation.
This discussion on Under the Sale of Goods Act, 1930, in a contract of sale the essential element is :a)Exchange of goodsb)Pricec)Promise to produce goodsd)None of the aboveCorrect answer is option 'B'. Can you explain this answer? is done on EduRev Study Group by CA Foundation Students. The Questions and Answers of Under the Sale of Goods Act, 1930, in a contract of sale the essential element is :a)Exchange of goodsb)Pricec)Promise to produce goodsd)None of the aboveCorrect answer is option 'B'. Can you explain this answer? are solved by group of students and teacher of CA Foundation, which is also the largest student community of CA Foundation. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for CA Foundation on EduRev and even discuss your questions like Under the Sale of Goods Act, 1930, in a contract of sale the essential element is :a)Exchange of goodsb)Pricec)Promise to produce goodsd)None of the aboveCorrect answer is option 'B'. Can you explain this answer? over here on EduRev! Apart from being the largest CA Foundation community, EduRev has the largest solved Question bank for CA Foundation.