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Question 1 of 10
1. Question
When did the Sale of Goods Act, 1930 come into force?
Correct
The Sale of Goods Act, 1930 came into force on 1 July 1930.
Incorrect
The Sale of Goods Act, 1930 came into force on 1 July 1930.
Unattempted
The Sale of Goods Act, 1930 came into force on 1 July 1930.
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Question 2 of 10
2. Question
What does a contract of sale involve transferring or agreeing to transfer?
Correct
A contract of sale involves the transfer or agreement to transfer ownership (title) of goods to a buyer for a price.
Incorrect
A contract of sale involves the transfer or agreement to transfer ownership (title) of goods to a buyer for a price.
Unattempted
A contract of sale involves the transfer or agreement to transfer ownership (title) of goods to a buyer for a price.
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Question 3 of 10
3. Question
According to Section 5(2), in which form may a contract of sale be made?
Correct
A contract of sale may be in writing, oral, partly written and partly oral, or implied from conduct.
Incorrect
A contract of sale may be in writing, oral, partly written and partly oral, or implied from conduct.
Unattempted
A contract of sale may be in writing, oral, partly written and partly oral, or implied from conduct.
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Question 4 of 10
4. Question
Which of the following is excluded from the definition of goods?
Correct
Goods include movable property but exclude actionable claims and money.
Incorrect
Goods include movable property but exclude actionable claims and money.
Unattempted
Goods include movable property but exclude actionable claims and money.
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Question 5 of 10
5. Question
What does a contract for the sale of future goods create?
Correct
A purported sale of future goods creates an agreement to sell, not an actual sale.
Incorrect
A purported sale of future goods creates an agreement to sell, not an actual sale.
Unattempted
A purported sale of future goods creates an agreement to sell, not an actual sale.
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Question 6 of 10
6. Question
Which of the following is a function of a mercantile agent?
Correct
A mercantile agent may have authority to sell or buy goods and raise money using goods as security.
Incorrect
A mercantile agent may have authority to sell or buy goods and raise money using goods as security.
Unattempted
A mercantile agent may have authority to sell or buy goods and raise money using goods as security.
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Question 7 of 10
7. Question
What does the term ‘price‘ mean under the provided content?
Correct
Price refers to the monetary consideration for goods.
Incorrect
Price refers to the monetary consideration for goods.
Unattempted
Price refers to the monetary consideration for goods.
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Question 8 of 10
8. Question
What does delivery mean under the Sale of Goods Act according to the provided content?
Correct
Delivery means voluntary transfer of possession from the seller to the buyer.
Incorrect
Delivery means voluntary transfer of possession from the seller to the buyer.
Unattempted
Delivery means voluntary transfer of possession from the seller to the buyer.
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Question 9 of 10
9. Question
What happens if specific goods perish without fault of either party before ownership passes to the buyer?
Correct
Under Section 8, the agreement becomes void when specific goods perish without fault before ownership passes to the buyer.
Incorrect
Under Section 8, the agreement becomes void when specific goods perish without fault before ownership passes to the buyer.
Unattempted
Under Section 8, the agreement becomes void when specific goods perish without fault before ownership passes to the buyer.
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Question 10 of 10
10. Question
Which statement correctly describes a sale compared with an agreement to sell?
Correct
In a sale, ownership transfers immediately, while in an agreement to sell, transfer is to occur in the future or after conditions are fulfilled.
Incorrect
In a sale, ownership transfers immediately, while in an agreement to sell, transfer is to occur in the future or after conditions are fulfilled.
Unattempted
In a sale, ownership transfers immediately, while in an agreement to sell, transfer is to occur in the future or after conditions are fulfilled.