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There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?
- a)After the lapse of six months period
- b)At the time of entering into the contract
- c)At the time of paying advance money
- d)As and when factory discharges waste
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
There was a contract to supply waste coal and ash for the next six mon...
This contract is entered into by and between the Seller [Seller Name], hereinafter referred to as "Seller," and the Buyer [Buyer Name], hereinafter referred to as "Buyer," collectively referred to as "Parties."
1. Objective:
The Seller agrees to supply waste coal and ash, hereinafter referred to as "Materials," to the Buyer for the next six months or until the agreed quantity is fulfilled, as and when the waste is generated by the Seller.
2. Quantity and Specifications:
The Seller shall provide the Buyer with the following quantities and specifications of the Materials:
- Waste coal: [Quantity] metric tons, generated as waste during Seller's coal processing activities.
- Ash: [Quantity] metric tons, generated as waste during Seller's combustion processes.
3. Price and Payment Terms:
The price for the Materials shall be agreed upon by both Parties and mentioned in a separate pricing schedule. Payment shall be made by the Buyer to the Seller within [number] days of receipt of an itemized invoice.
4. Delivery Schedule:
The Seller shall deliver the Materials to the Buyer's designated location as and when the waste is generated by the Seller. The Seller shall provide the Buyer with reasonable notice of the availability of the waste coal and ash for collection.
5. Quality Assurance:
The Seller shall ensure that the Materials supplied meet the agreed-upon specifications, conform to applicable industry standards, and comply with any regulatory requirements.
6. Force Majeure:
Neither Party shall be held liable for any failure or delay in the performance of their obligations under this contract if such failure or delay is caused by events beyond their reasonable control, including but not limited to acts of God, war, terrorism, natural disasters, or government actions.
7. Termination:
Either Party may terminate this contract by providing written notice to the other Party if either Party fails to meet its obligations under this contract, subject to any applicable cure period mentioned in a separate clause.
8. Confidentiality:
Both Parties shall maintain the confidentiality of any proprietary or confidential information disclosed during the course of this contract.
9. Governing Law and Jurisdiction:
This contract shall be governed by and construed in accordance with the laws of [Jurisdiction]. Any disputes arising out of or in connection with this contract shall be resolved through amicable negotiations. If no resolution is reached, the Parties agree to submit to the exclusive jurisdiction of the courts of [Jurisdiction].
10. Entire Agreement:
This contract constitutes the entire agreement between the Parties, supersedes any prior agreements or understandings, and may only be modified in writing and signed by both Parties.
IN WITNESS WHEREOF, the Parties hereto have executed this Waste Coal and Ash Supply Contract as of the effective date mentioned below.
[Buyer Name] [Seller Name]
Buyer Representative Seller Representative
Date: [Date] Date: [Date]
1. Objective:
The Seller agrees to supply waste coal and ash, hereinafter referred to as "Materials," to the Buyer for the next six months or until the agreed quantity is fulfilled, as and when the waste is generated by the Seller.
2. Quantity and Specifications:
The Seller shall provide the Buyer with the following quantities and specifications of the Materials:
- Waste coal: [Quantity] metric tons, generated as waste during Seller's coal processing activities.
- Ash: [Quantity] metric tons, generated as waste during Seller's combustion processes.
3. Price and Payment Terms:
The price for the Materials shall be agreed upon by both Parties and mentioned in a separate pricing schedule. Payment shall be made by the Buyer to the Seller within [number] days of receipt of an itemized invoice.
4. Delivery Schedule:
The Seller shall deliver the Materials to the Buyer's designated location as and when the waste is generated by the Seller. The Seller shall provide the Buyer with reasonable notice of the availability of the waste coal and ash for collection.
5. Quality Assurance:
The Seller shall ensure that the Materials supplied meet the agreed-upon specifications, conform to applicable industry standards, and comply with any regulatory requirements.
6. Force Majeure:
Neither Party shall be held liable for any failure or delay in the performance of their obligations under this contract if such failure or delay is caused by events beyond their reasonable control, including but not limited to acts of God, war, terrorism, natural disasters, or government actions.
7. Termination:
Either Party may terminate this contract by providing written notice to the other Party if either Party fails to meet its obligations under this contract, subject to any applicable cure period mentioned in a separate clause.
8. Confidentiality:
Both Parties shall maintain the confidentiality of any proprietary or confidential information disclosed during the course of this contract.
9. Governing Law and Jurisdiction:
This contract shall be governed by and construed in accordance with the laws of [Jurisdiction]. Any disputes arising out of or in connection with this contract shall be resolved through amicable negotiations. If no resolution is reached, the Parties agree to submit to the exclusive jurisdiction of the courts of [Jurisdiction].
10. Entire Agreement:
This contract constitutes the entire agreement between the Parties, supersedes any prior agreements or understandings, and may only be modified in writing and signed by both Parties.
IN WITNESS WHEREOF, the Parties hereto have executed this Waste Coal and Ash Supply Contract as of the effective date mentioned below.
[Buyer Name] [Seller Name]
Buyer Representative Seller Representative
Date: [Date] Date: [Date]
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There was a contract to supply waste coal and ash for the next six mon...
As u can see in question there was a contract to supply waste ash and coal generated by the factory so the answer is in the question it self that the property will be passes to the buyer as and when factory discharges the waste.
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There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?a)After the lapse of six months periodb)At the time of entering into the contractc)At the time of paying advance moneyd)As and when factory discharges wasteCorrect answer is option 'D'. Can you explain this answer?
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There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?a)After the lapse of six months periodb)At the time of entering into the contractc)At the time of paying advance moneyd)As and when factory discharges wasteCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?a)After the lapse of six months periodb)At the time of entering into the contractc)At the time of paying advance moneyd)As and when factory discharges wasteCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?a)After the lapse of six months periodb)At the time of entering into the contractc)At the time of paying advance moneyd)As and when factory discharges wasteCorrect answer is option 'D'. Can you explain this answer?.
There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?a)After the lapse of six months periodb)At the time of entering into the contractc)At the time of paying advance moneyd)As and when factory discharges wasteCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?a)After the lapse of six months periodb)At the time of entering into the contractc)At the time of paying advance moneyd)As and when factory discharges wasteCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?a)After the lapse of six months periodb)At the time of entering into the contractc)At the time of paying advance moneyd)As and when factory discharges wasteCorrect answer is option 'D'. Can you explain this answer?.
Solutions for There was a contract to supply waste coal and ash for the next six months, as and when the waste is generated by the seller’s factory.The buyer paid the lump sum price for the next six months in advance. When does the property in the goods pass to the buyer?a)After the lapse of six months periodb)At the time of entering into the contractc)At the time of paying advance moneyd)As and when factory discharges wasteCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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