5 Questions
What does the doctrine of caveat emptor imply?
Buyer is responsible for ensuring the quality of the goods
What is a contingent contract of sale?
A contract where the transfer of property depends on the fulfillment of certain conditions
What is the difference between sale and agreement to sell?
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
What does the term 'goods' include?
Movable property other than actionable claims and money
What are the essential elements of a valid contract of sale?
Two parties, subject matter as goods, transfer of property, fixed price
Test your knowledge of the different types of goods in the context of sales transactions. This quiz covers existing goods, future goods, specific goods, unascertained goods, ascertained goods, and contingent contracts of sale.
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