Contract of Sale Quiz

A Contract of Sale is defined under which Act?

• Indian Contract Act, 1872

• Sale of Goods Act, 1930

• Consumer Protection Act, 1986

• Transfer of Property Act, 1882

In a contract of sale, the seller transfers or agrees to transfer:

• Services only

• Ownership of goods

• Title of immovable property

• Right to use services

The subject matter of a contract of sale must be:

• Services

• Immovable property

• Movable goods

• Intellectual property

The consideration in a contract of sale must be:

• A promise

• Money only

• Barter

• Kind only

Which of the following is not an essential element of a contract of sale?

• Transfer of ownership

• Agreement between parties

• Immovable property

• Price in money

A sale differs from an agreement to sell in that in a sale:

• Ownership is retained

• Ownership is transferred immediately

• Delivery is not required

• Price is uncertain

Which of the following is true about an agreement to sell?

• It immediately transfers ownership

• It is executed

• It is an executory contract

• It requires no price

A valid contract of sale must include:

• Delivery by air only

• Goods in possession of buyer

• Legal consideration in money

• Court order

A condition in a contract of sale is:

• A minor term

• Not enforceable

• A major term, breach of which allows repudiation

• An optional clause

A warranty in a contract of sale is:

• A minor term, breach of which allows damages

• Equal to a condition

• Not part of the contract

• Illegal