Passing Of Property/Transfer of Property Between Buyer And Seller
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TOPIC- Passing Of Property/Transfer of Property Between Buyer And Seller
Transfer of property is the process of transferring the property in goods to the buyer for a price. It is the essence of a contract of sale.
Rules:
a. Sale of specific goods:
i) Passing of property at the time of contract.
ii) Goods to be weighed or measured for ascertaining price.
b. Sale of unascertained goods:
i) Goods must be ascertained.
ii) Goods must be appropriated.
c .Sale of approval:
i) Acceptance.
ii) Failure to return.
B. Goods Delivered on Approval or Sale on return basis.
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