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Partnership Deed

Out of the fo...

Question

Out of the following contracts would the Sale of Goods Act NOT apply?

A

A contract for the sale of shares in Listed Company

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B

A contract for a furniture, to be paid over time

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C

A contract to sell books that the seller will receive in due course.

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D

A contract for dinner at a restaurant.

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Solution

The correct option is A A contract for the sale of shares in Listed Company
A contract for the sale of shares in Listed Company- on this contract the Sale of Goods Act would not be applied since the shares of the Listed Companies are traded in the financial market..

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Q. Solve:
State whether the following contracts of sale amount to sale or an agreement to sell.
Case (a): X entered into a contract for sale of the entire crop of rice that would yield on his farm.
Case (b): A railway administration entered into a contract for sale of coal-ash that might. accumulate during the period of contract.
Case (c): X entered into a contract for sale of some goods in a particular ship to be delivered on the arrival of the ship.
Case (d): X entered into a contract for sale of a painting only if Z, its present owner, sells it to him.

Q. Under the Sale of Goods Act,

1930

, the Seller in a Contract of Sale transfer the ________ in goods to the buyer for a price.

Q. Prior to passing the Sale of Goods Act, 1930 the law relating to contracts of sale of goods was embodied in _______ of the Indian Contract Act, 1872.

Q. Under the Sale of Goods Act, a Condition is a stipulation essential for the ________ of the contract.

Q. When there is contract for sale of specific goods, the agreement is _________, if the goods, without the knowledge of seller, have been perished or have no longer in accordance with description before the contract.

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