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What Is a Share?

By transferri...

Question

By transferring the Property, the Rights and Liabilities will transfer to _______.

A

buyer

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B

seller

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C

both (a) and (b)

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D

none of these

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Solution

The correct option is A buyer
By transferring the Property, the Rights and Liabilities will transfer to buyer. It means that after the transfer of ownership of goods, the buyer bears all the liabilities related to the goods.

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Q. DIRECTIONS: (Qs. 92-97)Given below/ a statement of principle followed by a failual situation. Apply the principle to the faile given below and dselect the most appropriate answer
Principle Under the Transfer of Property Act, 1882 a property must be transferred , by one living person to another living person. The Act deals only with transfer of property between living persons.
Facts 'X' wants to transfer his property to the presiding deity in a temple situated within the estate of 'A'.

Q. PRINCIPLE: Under the Transfer of Property Act, 1882 a property must be transformed by one living person to another living person. The Act deals only with transfer of property between living persons.
FACTS: 'X' wants to transfer his property to the presiding deity in a temple situated within the estate of 'A'.

Q. PRINCIPLE: When a person fraudently or erroneously represents that he is authorized to transfer certain immovable property and professes to transfer such property for consideration, such transfer shall, at the option of the transferee, operate on any interest which the transferor may acquire in such property at any time during which the contract of transfer subsists.
FACTS: 'A', a Hindu who has separated from his father, 'B' sells to 'C' three fields, 'X', 'Y' and 'Z', representing that 'A' is authorized to transfer the same. Of these fields, 'Z' does not belong to 'A', it having been retained by 'B' on the partition, but on 'B's dying 'A' as successor obtains 'Z', and at that time 'C' had not cancelled the contract of sale.

Q. Liabilities and provisions made by sole proprietor are transferred to ________.

Q. Which of these a/c is closed by transferring to debit side of Trading a/c?

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