Question 1

Sale under Sale of goods Act is a/an ____________________ contract&#10;A)Executory&#10;B)Executable&#10;C)Executed&#10;D)None of the above

Accepted Answer

A sale under the Sale of Goods Act is an executed contract because the ownership of the goods is transferred from the seller to the buyer immediately.

Question 2

In sale the transfer of property in goods from the seller to the buyer takes place&#10;A)At the end of contract&#10;B)Immediately&#10;C)In a future Date&#10;D)Both a&b

Accepted Answer

The transfer of property in goods can occur either immediately or at the end of the contract, depending on the terms agreed upon by the seller and the buyer.

Question 3

In Agreement to sell the transfer of property in goods from the seller to the buyer takes place&#10;A)At the end of contract&#10;B)Immediately&#10;C)In a future Date&#10;D)Both b&c

Accepted Answer

In an agreement to sell, the transfer of property in goods takes place at a future date or upon the fulfillment of certain conditions.

Question 4

Which of the following is not a subject matter in a Sale of goods Act&#10;A)Trade mark&#10;B)Good will&#10;C)Money&#10;D)Water

Accepted Answer

Money is not considered a good under the Sale of Goods Act because it is primarily used as a medium of exchange rather than being sold as a commodity in the context of this legislation.

Question 5

As per Sale of goods Act Movable goods does not include&#10;A)Gas&#10;B)Growing crop&#10;C)Electricity&#10;D)Money

Accepted Answer

Money is not considered as movable goods under the Sale of Goods Act.

Question 6

The goods must be ________ goods for transferring the property in the goods&#10;A)Ascertained&#10;B)Unascertained&#10;C)Future&#10;D)All of the above

Accepted Answer

For transferring the property in goods, the goods must be specifically identified and agreed upon at the time the contract is made, which is the definition of ascertained goods.

Question 7

The subject matter of the contract must necessarily be _____________&#10;A)Sale&#10;B)Product&#10;C)Service&#10;D)Goods

Accepted Answer

The subject matter of a contract can be anything that is not illegal or against public policy. This can include the sale of goods, the provision of services, or the transfer of property.

Question 8

A consideration in contract of sale must be ______________ only&#10;A)Goods&#10;B)movable only&#10;C)price&#10;D)Purchase

Accepted Answer

A consideration in a contract of sale must be the price, which refers to the money consideration for a sale of goods.

Question 9

Transfer or agree to transfer the _____________ of the goods is the purpose of sale of goods Act&#10;A)Property&#10;B)Possession&#10;C)Value&#10;D)Usage

Accepted Answer

The answer of Transfer or agree to transfer the _____________...

Question 10

A sale is a ______________ contract&#10;A)Implied&#10;B)Executed&#10;C)Agreed&#10;D)Executory

Accepted Answer

A sale is an executed contract because it involves the immediate transfer of ownership from the seller to the buyer.

Deck 4: Understanding the Sale of Goods Act and Contracts for Sale