Which statements match the definitions in section 2 of the Sale of Goods Act, 1930? A. Property means…
Section 2(11) defines property as general property in goods, as distinct from merely a special property. Section 2(14) requires specific goods to be identified and agreed…
Choose your answer
Which statements match the definitions in section 2 of the Sale of Goods Act, 1930?
A. Property means special property in goods rather than general property.
B. Specific goods are identified and agreed upon when a contract of sale is made.
C. A person who cannot pay debts as they fall due is insolvent only if that person has committed an act of insolvency.
D. Price is the money consideration for a sale of goods.
Answer and explanation
Correct answer A
Section 2(11) defines property as general property in goods, as distinct from merely a special property.
Section 2(14) requires specific goods to be identified and agreed upon at the time of the contract of sale.
Under section 2(8), cessation of ordinary-course payment or inability to pay debts as they become due can satisfy the definition whether or not an act of insolvency has been committed.
Section 2(10) defines price as the money consideration for a sale of goods.
Option feedback
Option A
Specific goods and price are correctly defined.
Option B
The general-property and act-of-insolvency requirements are misstated.
Option C
The property and insolvency propositions are false.
Option D
This adds the false requirement of an act of insolvency.
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