What does ‘price’ mean under section 2(10) of the Sale of Goods Act, 1930?
Section 2(10) defines price as the money consideration for the sale.
Choose your answer
What does ‘price’ mean under section 2(10) of the Sale of Goods Act, 1930?
Answer and explanation
Correct answer A
Section 2(10) defines price as the money consideration for the sale.
Option feedback
Option A
Section 2(10) defines price as the money consideration for the sale.
Option B
Other goods alone are non-money consideration and do not meet this definition.
Option C
The statutory term refers to the money consideration. A wider exchange arrangement can involve other consideration without making that consideration itself the price.
Option D
The definition does not substitute market value for the money consideration under the sale.
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