LSB UNIT 2

Sale of goods act was passed in the year

• 1940

• 1930

• 1920

• 1960

Who is buyer?

• a person who buys or agrees to buy goods.

• a person who is still negotiating

• a person who offers to sell goods

• a person who is disagree to buy goods

The contracting parties in sale of goods known as

• offeror and offeree

• agent and principle

• seller and buyer

which of the below constitutes the essential element of contract of sale ?

• two parties

• transfer of property

• price

• all of the above

What is meant by the term "specific goods"?

• Specific goods are goods that are identified and agreed upon at the time a contract of sale is made.

• Specific goods are goods that have been specifically made to fulfil the buyer's order

• Specific goods are goods that have a specific (rather than a general) use

• Specific goods are goods that the seller has had to order specifically for the buyer

What are "existing goods"?

• Existing goods are goods that the seller has left over from a previous sale.

• Existing goods are goods that are either owned or possessed by the seller.

• Existing goods are goods that the seller knows exist but needs to order them specifically for the buyer.

• Existing goods are goods that have already been manufactured and therefore exist.

which of the below is not a good ?

• stocks

• dividend due

• crops

• water

The property in the goods means the

• possession of goods

• custody of goods

• ownership of goods

• both (a) and (b)

A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price

• True
• False

A warranty is a stipulation essential to the main purpose of the contract. The breach warranty gives rise to a right to treat the contract as repudiated

• True
• False