Site navigation

According to the Transfer of Property Act, 1882, sale is a transfer of ownership in exchange for a price:

Section 54 defines sale as transfer of ownership in exchange for a price paid, promised, or part-paid and part-promised. Full immediate payment is therefore not invariably…

Choose your answer

According to the Transfer of Property Act, 1882, sale is a transfer of ownership in exchange for a price:

Select one answer
Answer and explanation

Correct answer D

Section 54 defines sale as transfer of ownership in exchange for a price paid, promised, or part-paid and part-promised. Full immediate payment is therefore not invariably necessary for a sale. A mere contract for sale, however, does not by itself create an interest or charge in the property.

Current law: Section 54 retains these alternatives and the distinction between a sale and a contract for sale.

Practice for these exams

Related question papers

Related exam syllabi

Related questions in this topic