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Which of the following Sections of the Transfer of Property Act, 1882, defines Sale—

Section 54 defines sale as a transfer of ownership in exchange for a price paid, promised, or partly paid and partly promised. The essential distinction is that a sale…

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Which of the following Sections of the Transfer of Property Act, 1882, defines Sale—

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Correct answer C

Section 54 defines sale as a transfer of ownership in exchange for a price paid, promised, or partly paid and partly promised. The essential distinction is that a sale transfers ownership; a mere contract to sell does not by itself create an interest in the property. Section 58 instead concerns mortgages.

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