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CSEET · Business Laws and Management · Elements of Law relating to Sale of Goods

Under the Sale of Goods Act, 1930, a contract of sale is made by:

A contract of sale is made by an offer to buy or sell goods for a price and the acceptance of that offer. Delivery and payment may be immediate or postponed, so neither delivery alone, payment alone, nor registration is what creates the contract.

  1. AAn offer to buy or sell goods for a price and the acceptance of such offerCorrect
  2. BOnly the delivery of goods to the buyer
  3. COnly the payment of price in cash by the buyer
  4. DA written agreement registered with the authorities

Explanation

Section 5(1) says a contract of sale is made by an offer to buy or sell goods for a price and acceptance of that offer. Delivery or payment need not be immediate, and writing or registration is not required by this section.

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