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Questions and Answers
What does the doctrine of caveat emptor imply?
What does the doctrine of caveat emptor imply?
- Quality of goods is irrelevant in a sale
- Both buyer and seller are equally responsible for the quality of the goods
- Seller is responsible for ensuring the quality of the goods
- Buyer is responsible for ensuring the quality of the goods (correct)
What is a contingent contract of sale?
What is a contingent contract of sale?
- A contract with fixed property transfer date
- A contract without a specified price
- A contract where the transfer of property depends on the fulfillment of certain conditions (correct)
- A contract for immovable property
What is the difference between sale and agreement to sell?
What is the difference between sale and agreement to sell?
- In sale, the buyer is responsible for defects; in agreement to sell, the seller is responsible for defects
- In sale, the property in the goods is transferred immediately; in agreement to sell, it is transferred at a future date or on certain conditions (correct)
- In sale, the price is variable; in agreement to sell, the price is fixed
- There is no difference between sale and agreement to sell
What does the term 'goods' include?
What does the term 'goods' include?
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What are the essential elements of a valid contract of sale?
What are the essential elements of a valid contract of sale?
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