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Question
In case of ______ ownership of the goods goes to buyer.
In case of ______ ownership of the goods goes to buyer.
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Solution
The correct option is C Sale
In consignment concept, only the possession of goods transfers to consignee, not the ownership.In sale, the ownership is transferred as soon as the seller has put the goods in a deliverable state and the buyer comes to know about this act of the seller.
In the contract of bailment, the ownership of the goods remains with the Bailor and only the possession transfers to the bailee. Such delivery of goods may be actual or constructive.
In consignment concept, only the possession of goods transfers to consignee, not the ownership.
In sale, the ownership is transferred as soon as the seller has put the goods in a deliverable state and the buyer comes to know about this act of the seller.
In the contract of bailment, the ownership of the goods remains with the Bailor and only the possession transfers to the bailee. Such delivery of goods may be actual or constructive.
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