With respect to a sale of goods,which one of the following statements is true?

Question

Quizplus · Accepted Answer

Option B is true as per the principle of "right to lien" which grants the seller the right to retain possession of the goods until he receives the full payment, and if the cheque bounces, the seller can exercise this right and also sue the buyer for breach of contract. The other options are incorrect. Option A is incorrect as the risk of loss passes from the seller to the buyer upon delivery. Option C is incorrect as the Sale of Goods Act applies only to the sale of goods and not to real estate or bonds. Option D is incorrect as the law mandates that goods sold must be fit for their intended purpose and of merchantable quality, and this cannot be overridden by any agreement. Option E is incorrect as the time of payment is a matter of agreement between the parties and can be different from 30 days.

With Respect to a Sale of Goods,which One of the Following