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Which of the following statement is true?
- a)A contract of sale can be validly made for the sale of future goods
- b)Actionable claims is a subject matter of contract of sale
- c)A contract for the sale of future goods is always an agreement to sell
- d)In an agreement to sell, the ownership of the goods passes to the buyer immediately
Correct answer is option 'A,C'. Can you explain this answer?
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Which of the following statement is true?a)A contract of sale can be v...
True Statements about Contract of Sale
A contract of sale is an agreement between the buyer and seller for the exchange of goods or services for a consideration. Here are the true statements about the contract of sale:
1. A contract of sale can be validly made for the sale of future goods:
A contract of sale can be made for the sale of goods that are not yet in existence or not yet owned by the seller. Such goods are called future goods. The contract will become enforceable when the goods come into existence or the seller acquires ownership of the goods.
2. A contract for the sale of future goods is always an agreement to sell:
A contract for the sale of future goods is an agreement to sell because the goods are not yet in existence or owned by the seller. The contract becomes a sale when the goods come into existence or the seller acquires ownership of the goods.
3. Actionable claims is a subject matter of contract of sale:
An actionable claim is a claim to any debt or other legal right that can be enforced in court. Such claims can be transferred by the seller to the buyer as a subject matter of the contract of sale. For example, a contract of sale can be made for the sale of a debt owed by a third party to the seller.
4. In an agreement to sell, the ownership of the goods passes to the buyer immediately:
In an agreement to sell, the ownership of the goods does not pass to the buyer immediately. The ownership will pass to the buyer only when the conditions specified in the contract are fulfilled. Until then, the seller remains the owner of the goods.
In conclusion, a contract of sale can be made for future goods, actionable claims is a subject matter of the contract of sale and in an agreement to sell, the ownership of the goods does not pass to the buyer immediately.
A contract of sale is an agreement between the buyer and seller for the exchange of goods or services for a consideration. Here are the true statements about the contract of sale:
1. A contract of sale can be validly made for the sale of future goods:
A contract of sale can be made for the sale of goods that are not yet in existence or not yet owned by the seller. Such goods are called future goods. The contract will become enforceable when the goods come into existence or the seller acquires ownership of the goods.
2. A contract for the sale of future goods is always an agreement to sell:
A contract for the sale of future goods is an agreement to sell because the goods are not yet in existence or owned by the seller. The contract becomes a sale when the goods come into existence or the seller acquires ownership of the goods.
3. Actionable claims is a subject matter of contract of sale:
An actionable claim is a claim to any debt or other legal right that can be enforced in court. Such claims can be transferred by the seller to the buyer as a subject matter of the contract of sale. For example, a contract of sale can be made for the sale of a debt owed by a third party to the seller.
4. In an agreement to sell, the ownership of the goods passes to the buyer immediately:
In an agreement to sell, the ownership of the goods does not pass to the buyer immediately. The ownership will pass to the buyer only when the conditions specified in the contract are fulfilled. Until then, the seller remains the owner of the goods.
In conclusion, a contract of sale can be made for future goods, actionable claims is a subject matter of the contract of sale and in an agreement to sell, the ownership of the goods does not pass to the buyer immediately.
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Which of the following statement is true?a)A contract of sale can be validly made for the sale of future goodsb)Actionable claims is a subject matter of contract of salec)A contract for the sale of future goods is always an agreement to selld)In an agreement to sell, the ownership of the goods passes to the buyer immediatelyCorrect answer is option 'A,C'. Can you explain this answer?
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Which of the following statement is true?a)A contract of sale can be validly made for the sale of future goodsb)Actionable claims is a subject matter of contract of salec)A contract for the sale of future goods is always an agreement to selld)In an agreement to sell, the ownership of the goods passes to the buyer immediatelyCorrect answer is option 'A,C'. 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 Which of the following statement is true?a)A contract of sale can be validly made for the sale of future goodsb)Actionable claims is a subject matter of contract of salec)A contract for the sale of future goods is always an agreement to selld)In an agreement to sell, the ownership of the goods passes to the buyer immediatelyCorrect answer is option 'A,C'. 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 Which of the following statement is true?a)A contract of sale can be validly made for the sale of future goodsb)Actionable claims is a subject matter of contract of salec)A contract for the sale of future goods is always an agreement to selld)In an agreement to sell, the ownership of the goods passes to the buyer immediatelyCorrect answer is option 'A,C'. Can you explain this answer?.
Which of the following statement is true?a)A contract of sale can be validly made for the sale of future goodsb)Actionable claims is a subject matter of contract of salec)A contract for the sale of future goods is always an agreement to selld)In an agreement to sell, the ownership of the goods passes to the buyer immediatelyCorrect answer is option 'A,C'. 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 Which of the following statement is true?a)A contract of sale can be validly made for the sale of future goodsb)Actionable claims is a subject matter of contract of salec)A contract for the sale of future goods is always an agreement to selld)In an agreement to sell, the ownership of the goods passes to the buyer immediatelyCorrect answer is option 'A,C'. 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 Which of the following statement is true?a)A contract of sale can be validly made for the sale of future goodsb)Actionable claims is a subject matter of contract of salec)A contract for the sale of future goods is always an agreement to selld)In an agreement to sell, the ownership of the goods passes to the buyer immediatelyCorrect answer is option 'A,C'. Can you explain this answer?.
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