is liable to pay the price or not. Why? Clues: Students are advised to read thoroughly the implied warranties and conditions for the cases to and rules relating to transfer of ownership for cases to . For Own Thinking (c) State whether the seller is an unpaid seller or not in the following cases: i.
X sold some goods to Y for Rs. , . Y paid Rs. , but failed to pay the balance ii.
X sold some goods to Y for Rs. , and received a cheque for the full price as conditional payment. On presentment, the cheque was dishonoured by the bank. iii.
X sold some goods to Y for Rs. , on a credit of one month. One month has not yet expired. iv.
X sold some goods to Y for Rs. , on a credit of one month and one month has expired and the price remains unpaid. v. X sold some goods to Y for Rs.
, on a credit of one month. Y became insolvent during the period of credit. Key Words Sale Ownership Property Conditions Warranties Insolvency Contingent Lien Suit 12th Commerce Unit - - . .
AM Exercise I. Choose the Correct Answers: . Sale of Goods Act was passed in the year a) b) c) d) . Which of the below constitutes the essential element of contract of sale?
a) Two parties b) Transfer of property c) Price d) All of the above . Which of the below is not a good? a) Stocks b) Dividend due c) Crops d) Water . In case of the sale, the has the right to sell a) Buyer b) Seller c)Hirer d) Consignee .
The property in the goods means the a) Possession of goods b) Custody of goods c) Ownership of goods d) Both (a) and (b) Answers: c d b b c II. Very Short Answer Questions: . What is a contract of sale of goods? .
List down the essential elements of a contract of sale. .