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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :
- a)Barter
- b)Agreement to sale
- c)Executed contract of sale
- d)Sale
Correct answer is option 'B'. Can you explain this answer?
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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in ex...
Explanation:
- The given scenario represents an "Agreement to sale" rather than a barter, executed contract of sale, or a sale.
- In an "Agreement to sale," the seller agrees to transfer the ownership of goods to the buyer at a future date, subject to certain conditions.
- Let's analyze the given scenario based on the elements of an agreement to sale.
Offer and Acceptance:
- The offer is made by X, who agrees to deliver 100 computer sets in the future.
- The acceptance is made by the buyer, who agrees to provide 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash.
Future Delivery:
- In an agreement to sale, the delivery of goods is promised to happen in the future.
- X agrees to deliver the 100 computer sets in the future, indicating that the delivery has not taken place yet.
Exchange of Consideration:
- Consideration refers to the value given in exchange for the goods.
- In this case, X agrees to deliver the computer sets worth Rs. 30 lakhs in exchange for 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash.
- The consideration given by the buyer is the fridge sets and cash, and the consideration given by X is the computer sets.
Conditions:
- There may be certain conditions that need to be fulfilled before the ownership of goods is transferred.
- The given scenario does not mention any specific conditions that need to be fulfilled.
Conclusion:
- Based on the above analysis, it can be concluded that the given scenario represents an "Agreement to sale" as X agrees to deliver the computer sets in the future in exchange for fridge sets and cash.
- The given scenario represents an "Agreement to sale" rather than a barter, executed contract of sale, or a sale.
- In an "Agreement to sale," the seller agrees to transfer the ownership of goods to the buyer at a future date, subject to certain conditions.
- Let's analyze the given scenario based on the elements of an agreement to sale.
Offer and Acceptance:
- The offer is made by X, who agrees to deliver 100 computer sets in the future.
- The acceptance is made by the buyer, who agrees to provide 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash.
Future Delivery:
- In an agreement to sale, the delivery of goods is promised to happen in the future.
- X agrees to deliver the 100 computer sets in the future, indicating that the delivery has not taken place yet.
Exchange of Consideration:
- Consideration refers to the value given in exchange for the goods.
- In this case, X agrees to deliver the computer sets worth Rs. 30 lakhs in exchange for 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash.
- The consideration given by the buyer is the fridge sets and cash, and the consideration given by X is the computer sets.
Conditions:
- There may be certain conditions that need to be fulfilled before the ownership of goods is transferred.
- The given scenario does not mention any specific conditions that need to be fulfilled.
Conclusion:
- Based on the above analysis, it can be concluded that the given scenario represents an "Agreement to sale" as X agrees to deliver the computer sets in the future in exchange for fridge sets and cash.
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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. Can you explain this answer?
Question Description
X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. 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 X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. 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 X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. Can you explain this answer?.
X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. 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 X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. 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 X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. Can you explain this answer?.
Solutions for X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of X agrees to deliver in future 100 computer sets for Rs. 30 lakhs in exchange of 200 fridge sets worth Rs. 40 lakhs and Rs. 60,000 in cash. This is a :a)Barterb)Agreement to salec)Executed contract of saled)SaleCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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