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Judiciary Exams Exam  >  Judiciary Exams Tests  >  Test: Rights and Duties of Buyer and Seller - Judiciary Exams MCQ

Test: Rights and Duties of Buyer and Seller - Judiciary Exams MCQ


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20 Questions MCQ Test - Test: Rights and Duties of Buyer and Seller

Test: Rights and Duties of Buyer and Seller for Judiciary Exams 2024 is part of Judiciary Exams preparation. The Test: Rights and Duties of Buyer and Seller questions and answers have been prepared according to the Judiciary Exams exam syllabus.The Test: Rights and Duties of Buyer and Seller MCQs are made for Judiciary Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Rights and Duties of Buyer and Seller below.
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Test: Rights and Duties of Buyer and Seller - Question 1
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What is the primary purpose of the Sales of Goods Act 1930?

Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 1
The Sales of Goods Act 1930 primarily aims to define the responsibilities and rights of both buyers and sellers in transactions involving goods. It ensures that contracts related to the sale of goods adhere to legal standards and principles, overseeing the fairness and legality of such transactions. This act plays a crucial role in maintaining the integrity and legality of goods transactions within the legal framework.
Test: Rights and Duties of Buyer and Seller - Question 2
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What is the primary role of a buyer in commercial settings?

Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 2
In commercial settings, the primary role of a buyer involves initiating transactions. This action marks the beginning of the purchasing process where the buyer expresses interest in acquiring goods or services from a seller or supplier. By initiating transactions, buyers signal their intent to engage in a potential exchange, thereby setting the purchasing process in motion.
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Test: Rights and Duties of Buyer and Seller - Question 3
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Which act governs the rights and duties of buyers and sellers involved in transactions related to immovable property?

Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 3
The Transfer of Property Act is the legislation that governs the rights and duties of buyers and sellers in transactions related to immovable property. This act specifically deals with the transfer of immovable property, outlining the legal framework within which such transactions should take place. It establishes the rights and obligations of parties involved in property transactions, ensuring clarity and legal compliance in dealings related to immovable property.
Test: Rights and Duties of Buyer and Seller - Question 4
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What is a key right of the buyer according to the Sale of Goods Act 1930?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 4
According to the Sale of Goods Act 1930, a key right of the buyer is the right to reject non-conforming goods. This ensures that buyers can refuse the delivery of goods that do not meet the specified description, quality, or quantity, safeguarding against substandard or inadequate products.
Test: Rights and Duties of Buyer and Seller - Question 5
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In what scenario can a buyer sue for damages for non-delivery according to the Sale of Goods Act 1930?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 5
According to the Sale of Goods Act 1930, a buyer can sue for damages for non-delivery when the seller wrongfully refuses to deliver the goods. This legal recourse allows buyers to seek compensation for any losses incurred due to the seller's failure to deliver the agreed-upon goods.
Test: Rights and Duties of Buyer and Seller - Question 6
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When can a buyer sue for damages for non-delivery of goods?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 6
A buyer can sue for damages for non-delivery of goods when the seller wrongfully refuses to deliver the goods as agreed upon in the contract. This legal recourse allows the buyer to seek compensation for any losses incurred due to the seller's failure to deliver the goods, ensuring that the buyer is protected in cases of non-delivery.
Test: Rights and Duties of Buyer and Seller - Question 7
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What is the buyer's responsibility when the seller is ready to deliver the goods as per the contract?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 7
When the seller is prepared to deliver the goods according to the contract, it becomes the buyer's duty to accept them promptly. This includes acknowledging receipt and ensuring compliance with the terms of the agreement. By accepting the goods without delay, the buyer upholds their end of the transaction, facilitating a smooth exchange process.
Test: Rights and Duties of Buyer and Seller - Question 8
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What does the buyer's right to reject non-conforming goods primarily aim to protect against?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 8
The buyer's right to reject non-conforming goods is primarily aimed at protecting against the receipt of substandard or inadequate products. This right allows the buyer to refuse goods that do not meet the specified description, quality, or quantity outlined in the contract, ensuring that they receive goods that meet the agreed-upon standards.
Test: Rights and Duties of Buyer and Seller - Question 9
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In a situation where goods are transported to a location different from where they were sold, who bears the risk of any deterioration or damage during transit?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 9
If goods are shipped to a location other than the point of sale, the buyer assumes the risk of any deterioration or damage that may occur during transit. This underscores the importance of the buyer's responsibility to safeguard the goods once they are in transit to the designated location. By accepting this risk, the buyer acknowledges their obligation to protect the goods until they are safely received.
Test: Rights and Duties of Buyer and Seller - Question 10
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What is the buyer's responsibility when the seller tenders delivery of goods as per the contract terms?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 10
When the seller tenders delivery of goods in installments as per the contract, the buyer's duty is to accept each delivery and make payments accordingly, adhering to the agreed schedule. This ensures smooth and timely completion of the transaction, benefiting both parties involved.
Test: Rights and Duties of Buyer and Seller - Question 11
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What happens if the buyer refuses or rejects the goods delivered to them?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 11
If the buyer refuses or rejects the goods delivered to them, it is their duty to inform the seller promptly. This allows the seller to take appropriate actions, such as arranging for return or replacement of the goods. Clear communication between the buyer and seller is essential in such situations to resolve any issues efficiently.
Test: Rights and Duties of Buyer and Seller - Question 12
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What right does the seller have under the Sale of Goods Act, 1930, to protect their interests by exercising control and ownership of the goods until specific conditions are met?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 12
The right of the seller to exercise a lien and retain possession of the goods until full payment of the price is received is crucial in safeguarding their interests. This provision allows the seller to withhold the goods until payment is made, ensuring that they are not at a disadvantage in the transaction.
Test: Rights and Duties of Buyer and Seller - Question 13
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In what circumstances can the seller under the Sale of Goods Act, 1930, resell the goods and claim damages for losses incurred?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 13
The seller can resell the goods and claim damages for losses incurred, specifically when the buyer fails to make payment as per the contract terms. This provision allows the seller to mitigate potential losses by reselling the goods in cases of buyer default, ensuring some recourse for the unpaid dues.
Test: Rights and Duties of Buyer and Seller - Question 14
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What right allows the seller to assume that the buyer has accepted the goods under certain circumstances?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 14
The right to assume buyer's acceptance permits the seller to consider that the buyer has accepted the goods under specific conditions, which can help facilitate smoother transactions. This right is crucial in situations where certain criteria are met, allowing the seller to move forward with the transaction assuming acceptance.
Test: Rights and Duties of Buyer and Seller - Question 15
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Which right enables the seller to exercise a lien on the goods and retain possession until full payment of the price is received?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 15
The right to exercise lien and retain possession empowers the seller to hold onto the goods and enforce a lien until the buyer fulfills the obligation of paying the full price. This right acts as a protective measure for the seller, ensuring that they can retain possession until the financial commitment is met.
Test: Rights and Duties of Buyer and Seller - Question 16
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What is the primary duty of a seller to ensure legal compliance in the transfer of ownership of goods?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 16
The primary duty of a seller to ensure legal compliance in the transfer of ownership of goods is the "Duty to Arrange for Transfer of Property." This duty encompasses meeting all legal requirements necessary for the transfer of ownership to occur smoothly. It is essential for sellers to fulfill this duty to establish a clear and undisputed ownership of the goods.
Test: Rights and Duties of Buyer and Seller - Question 17
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What responsibility does a seller hold to protect against potential damage or loss of goods while in transit?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 17
The responsibility of a seller to protect against potential damage or loss of goods while in transit is encapsulated in the "Duty to Arrange for Insurance during Transmission." By arranging for insurance coverage during the transportation of goods, sellers take proactive measures to safeguard against unforeseen circumstances that could result in damage or loss. This duty highlights the seller's commitment to ensuring the safe delivery and protection of the goods until they reach the buyer.
Test: Rights and Duties of Buyer and Seller - Question 18
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What right ensures that buyers receive goods as per the agreed contract terms?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 18
The right to receive goods ensures that buyers are entitled to receive goods in accordance with the terms agreed upon in the contract. This right guarantees that buyers get what they have paid for and aligns with the fundamental principle of contractual agreements in commercial transactions.
Test: Rights and Duties of Buyer and Seller - Question 19
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In commercial transactions, what action are buyers obligated to take within a reasonable period after the delivery of goods?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 19
Accepting goods promptly is a crucial duty of buyers in commercial transactions. It is essential for buyers to acknowledge the receipt of goods within a reasonable period after delivery to ensure the smooth processing of transactions and maintain the integrity of the agreement between the buyers and sellers.
Test: Rights and Duties of Buyer and Seller - Question 20
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According to the Sale of Goods Act and the Indian Contract Act, what is the responsibility of sellers regarding the goods they supply?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 20
Sellers are responsible for ensuring that the goods supplied meet the quality and quantity requirements specified in the contract, as mandated by the Sale of Goods Act and the Indian Contract Act. This responsibility ensures that buyers receive products that align with the agreed-upon terms, promoting fair and ethical interactions in commercial transactions.
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