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In exchange under the provisions of the Transfer of Property Act, which of the following statements is…

In an exchange, each party transfers ownership in return for the other party’s property. The reciprocal transfer supplies consideration, even though it is not ordinarily a…

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In exchange under the provisions of the Transfer of Property Act, which of the following statements is true?

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Correct answer A

In an exchange, each party transfers ownership in return for the other party’s property. The reciprocal transfer supplies consideration, even though it is not ordinarily a money price as in a sale. Section 118 distinguishes exchange from transactions where both exchanged things are money.

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