1 point
Which of the following cannot be said to be included in the term "goods”
defined under section 2(7) of the Sale of Goods Act, 1930:
O Stock
O Shares
O Actionable claims
O Growing crops
Answers
Answer:
Actionable claim is not defined under the terms of goods
INDIAN SALE OF GOODS ACT 1930
Actionable claims cannot be said to be included in the term "goods" defined under section 2(7) of the sale of goods act, 1930.
GETTING TO KNOW MORE ABOUT SALE OF GOODS ACT 1930:
* The Indian Sale of Goods Act of 1930 is a commercial statute that was enacted on July 1, 1930, under the British Raj, and was largely influenced by the United Kingdom's Sale of Goods Act of 1893.
* It establishes contracts in which the seller sells or promises to transfer title (ownership) in the products to the buyer in exchange for a price. It may be used all throughout India.
* According to the statute, items supplied from a seller to a buyer must be sold at a specific price and for a specific amount of time. On September 23, 1963, the statute was revised and called the Sale of Goods Act, 1930. It is still in effect in India, where it was revised in 1963, and in Bangladesh, where it is known as the Sale Agreement.