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Quantitative Aptitude
Similar to Different (or) A+B+C=N
A sells to B ...
Question

A sells to B 100 bags of wheat lying in C's warehouse. A makes a delivery order to C to transfer the wheat to B. C transfers and holds the 100 bags on behalf of B and by making necessary entries in his books. This is a case of _________.

A
actual Ddlivery
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B
constructive delivery
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C
symbolical delivery
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D
forward delivery
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Solution

The correct option is B constructive delivery
A sells to B 100 bags of wheat lying in C's warehouse. A makes a delivery order to C to transfer the wheat to B. C transfers and holds the 100 bags on behalf of B and by making necessary entries in his books. This is a case of constructive delivery. Constructive delivery refers to a transfer of title when actual delivery cannot be done. It is a operation by law.

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Example I X agreed to sell 100 bags of wheat to Y out of his stock of 500 bags A tire broke out and the entire quantity of wheat was destroyed. State who shall bear the loss and why in each of the following alternative cases?
(a) If no bag had been separated before fire for the purposes of delivery to Y;
(b) If 100 bags had been separated before fire with Y's consent
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X agreed to sell to Y a parcel of 700 bags of groundnuts lying in his godown. Unknown to X, 109 bags had been stolen at the time of contract. X tendered delivery of 591 bags. Y declined to accept. State the legal position.
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X entered into on a contract for the sale of 100 bags of wheat out of Rs. 1,000 bags lying in his godown. Unknown to X, the entire stock was destroyed by fire. X declined to deliver. State the legal position.
Q.

A grain wholesaler earns a profit of 12 Rs per bag of wheat sold and a loss of 8 Rs per bag of rice sold.

(a) If he sells 1500 bags of wheat and 2050 bags of rice in a month, what is his profit or loss?

(b) What is the number of wheat bags he must sell to have neither profit nor loss, if the number of rice bags sold is 2400 bags?

Q. Many a time we read in newspaper about the benefits of National Electronic Funds Transfer (NEFT), a delivery service launched by the bank. Why do banks advocate for such delivery channels?
A. It is a system in which no physical transfer takes place, hence risk is very low.
B. In this system banks are not required to transfer any money actually to the account of the customer. Only book adjustment is done. Hence actual fund is not needed.
C. This facility is available to anybody at any place. Even having a bank account is not at all necessary.
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