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Questions and Answers
When does the property pass to the buyer in a transaction where goods are delivered on approval?
When does the property pass to the buyer in a transaction where goods are delivered on approval?
- At the time of delivery
- When the goods are returned
- Only if the buyer pays for the goods
- After the buyer signifies approval to the seller (correct)
What action by the buyer indicates acceptance of goods delivered on approval?
What action by the buyer indicates acceptance of goods delivered on approval?
- Notifying the seller of potential issues
- Returning the goods immediately
- Keeping the goods without rejection (correct)
- Asking for an extension to decide
In a sale where goods are delivered on approval, when can property pass if no time is fixed for the return of goods?
In a sale where goods are delivered on approval, when can property pass if no time is fixed for the return of goods?
- After a reasonable time has passed (correct)
- After the buyer pays for the goods
- Only when the seller confirms acceptance
- Immediately after delivery
What happens if a buyer retains goods delivered on approval without signifying acceptance or rejection?
What happens if a buyer retains goods delivered on approval without signifying acceptance or rejection?
How does a buyer formally adopt a transaction in which goods are delivered on approval?
How does a buyer formally adopt a transaction in which goods are delivered on approval?
What is the key factor that determines when property passes in a sale of specific goods in a deliverable state?
What is the key factor that determines when property passes in a sale of specific goods in a deliverable state?
According to Rule 2, when does the property of specific goods pass from the seller to the buyer?
According to Rule 2, when does the property of specific goods pass from the seller to the buyer?
In a contract where goods are delivered on approval, what signifies the buyer's acceptance of the goods?
In a contract where goods are delivered on approval, what signifies the buyer's acceptance of the goods?
When is a sale of specific goods considered unconditional according to Rule 1?
When is a sale of specific goods considered unconditional according to Rule 1?
What action by a buyer indicates acceptance of specific goods delivered in a deliverable state under Rule 4?
What action by a buyer indicates acceptance of specific goods delivered in a deliverable state under Rule 4?
In what situation does property pass from the seller to the buyer when specific goods are delivered on approval and no time is fixed for their return?
In what situation does property pass from the seller to the buyer when specific goods are delivered on approval and no time is fixed for their return?
If a seller becomes insolvent before the property passes, what right does the buyer have?
If a seller becomes insolvent before the property passes, what right does the buyer have?
According to S20 SGA, what happens if goods are damaged before the property and risk pass to the buyer?
According to S20 SGA, what happens if goods are damaged before the property and risk pass to the buyer?
What is the consequence if either party becomes insolvent?
What is the consequence if either party becomes insolvent?
When can a buyer claim goods from a seller’s liquidator?
When can a buyer claim goods from a seller’s liquidator?
What right does the buyer have if goods are damaged, destroyed, or lost before property passes?
What right does the buyer have if goods are damaged, destroyed, or lost before property passes?
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