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Indian Contract Act, 1872

Quick practice

Question 1 of 4

Consider the following statements delineating the differences between a "Sale" and an "Agreement to Sell":

Statement I: In a completed Sale, the ownership property in the goods transfers to the buyer immediately, making it an executed contract.

Statement II: In an Agreement to Sell, the ownership property transfers at a future date, meaning the risk of loss remains entirely with the seller until that time.

Statement III: An Agreement to Sell immediately creates a "right in rem," giving the buyer absolute rights over the goods against the whole world.

Which of the statements are correct?


A

Statement I and Statement II only

B

Statement II and Statement III only

C

Statement I and Statement III only

D

Statement I, Statement II, and Statement III


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