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 |
Most Upvoted Answer
A agrees to deliver his old car valued at Rs. 80,000 to B, a car deale...
Contract of Sale
A contract of sale is a legal agreement between two parties, where one party agrees to transfer ownership of goods or services to the other party in exchange for consideration, usually in the form of money. In this case, 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.
Elements of a Contract of Sale
There are four essential elements of a contract of sale:
1. Agreement: There must be an agreement between the buyer and the seller to transfer ownership of the goods or services.
2. Consideration: There must be some form of consideration, usually in the form of money, exchanged between the parties.
3. Transfer of ownership: There must be a transfer of ownership of the goods or services from the seller to the buyer.
4. Goods or services: The subject matter of the contract must be goods or services.
Conclusion
In conclusion, the transaction between A and B is a contract of sale because it meets all the necessary elements of a contract of sale. A has agreed to transfer ownership of his old car to B in exchange for a new car and cash, which constitutes an agreement for the sale of goods.
A contract of sale is a legal agreement between two parties, where one party agrees to transfer ownership of goods or services to the other party in exchange for consideration, usually in the form of money. In this case, 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.
Elements of a Contract of Sale
There are four essential elements of a contract of sale:
1. Agreement: There must be an agreement between the buyer and the seller to transfer ownership of the goods or services.
2. Consideration: There must be some form of consideration, usually in the form of money, exchanged between the parties.
3. Transfer of ownership: There must be a transfer of ownership of the goods or services from the seller to the buyer.
4. Goods or services: The subject matter of the contract must be goods or services.
Conclusion
In conclusion, the transaction between A and B is a contract of sale because it meets all the necessary elements of a contract of sale. A has agreed to transfer ownership of his old car to B in exchange for a new car and cash, which constitutes an agreement for the sale of goods.
Free Test
FREE
| Start Free Test |
Community Answer
A agrees to deliver his old car valued at Rs. 80,000 to B, a car deale...
Barter is right answer.
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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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 is _________a)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