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Business Studies

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In a sale on ...

Question

In a sale on "approval" basis, any act of the Buyer exercising domination over the goods, showing an unequivocal intention to buy is called _______.

A

adopting the transaction

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B

adapting the transaction

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C

revoking the transaction

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D

rejecting the transaction

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Solution

The correct option is A adopting the transaction
In a sale on "approval" basis, any act of the Buyer exercising domination over the goods, showing an unequivocal intention to buy is called adopting the transaction. Sale on approval basis implies a change of possession only and not a transfer of ownership unless the specified period expires without return.

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