CA Foundation Exam > CA Foundation Questions > A agrees to deliver his old car valued at Rs....
Start Learning for Free
A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it is
- a)Contract of sale.
- b)Agreement to sell.
- c)Exchange.
- d)Barter.
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
A agrees to deliver his old car valued at Rs. 80,000 to B, a car deale...
A contract of sale, sales contract, sales order, or contract for sale is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent).
View all questions of this test
Most Upvoted Answer
A agrees to deliver his old car valued at Rs. 80,000 to B, a car deale...
Contract of Sale
Explanation:
A contract of sale is an agreement where the seller transfers the ownership of the goods to the buyer in exchange for a price. In this case, A has agreed to deliver his old car to B, a car dealer, in exchange for a new car, and has also agreed to pay the difference in cash. This arrangement constitutes a contract of sale.
Elements of a Contract of Sale:
1. Offer and Acceptance: A valid contract of sale requires a definite offer and acceptance by both parties.
2. Price: A price must be fixed or determinable for a contract of sale to be valid.
3. Transfer of Ownership: The seller must transfer the ownership of the goods to the buyer.
4. Delivery: The goods must be delivered to the buyer or made available for the buyer to take possession.
5. Payment: The buyer must pay the price agreed upon.
Conclusion:
In conclusion, the arrangement between A and B constitutes a contract of sale as all the necessary elements of a contract of sale are present. A has agreed to transfer the ownership of his old car to B, receive a new car in exchange, and pay the difference in cash. Therefore, it is a contract of sale.
Explanation:
A contract of sale is an agreement where the seller transfers the ownership of the goods to the buyer in exchange for a price. In this case, A has agreed to deliver his old car to B, a car dealer, in exchange for a new car, and has also agreed to pay the difference in cash. This arrangement constitutes a contract of sale.
Elements of a Contract of Sale:
1. Offer and Acceptance: A valid contract of sale requires a definite offer and acceptance by both parties.
2. Price: A price must be fixed or determinable for a contract of sale to be valid.
3. Transfer of Ownership: The seller must transfer the ownership of the goods to the buyer.
4. Delivery: The goods must be delivered to the buyer or made available for the buyer to take possession.
5. Payment: The buyer must pay the price agreed upon.
Conclusion:
In conclusion, the arrangement between A and B constitutes a contract of sale as all the necessary elements of a contract of sale are present. A has agreed to transfer the ownership of his old car to B, receive a new car in exchange, and pay the difference in cash. Therefore, it is a contract of sale.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer?
Question Description
A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. 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 A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. 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 A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer?.
A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. 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 A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. 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 A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer?.
Solutions for A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a new car, and agrees to pay the difference in cash it isa)Contract of sale.b)Agreement to sell.c)Exchange.d)Barter.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup