Sale of Goods Act Quiz

A contract whereby the seller agrees to transfer the property in goods to the buyer without specifying the price.

A contract whereby the seller transfers the property in goods to the buyer for free.

A contract whereby the buyer agrees to transfer the property in goods to the seller for a price.

A contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. (correct)

The contract defaults to standard industry terms and conditions.

Rules provided by the Sale of Goods Act apply to the relevant issue. (correct)

The contract becomes void and unenforceable.

The parties are free to interpret the terms as they wish.

An agreement enforceable at law with all essential elements of a valid contract present. (correct)

An informal agreement between the seller and the buyer.

A verbal agreement without the need for written documentation.

An understanding between the parties, even if essential elements of a valid contract are absent.

<p>Consideration</p> Signup and view all the answers

<p>A contract whereby a seller transfers the ownership in goods to buyer or agrees to transfer it to the buyer for a price.</p> Signup and view all the answers