Under Section 24 of the Sale of Goods Act, 1930, for goods sent on approval or sale or return, property passes only upon acceptance, either express or implied by retention beyond the specified or reasonable time.
As per the provisions of Section 24 of the Sale of Goods Act, 1930, in case goods are sent ‘on approval’ or ‘on sale or return,’ the property in goods does not pass:
Asked in Paper I 4 · Topic: The Parliamentary Act (Legislative Procedures (Ordinary, Money, Financial, Constitutional Amendment Bills))
More Indian Polity and Governance questions
- Which provision of the Sale of Goods Act, 1930 is pari materia to Section 39 of the Indian Contract Act, 1872?
- What is the penalty for non-compliance with the orders of the Real Estate Appellate Tribunal under the Real Estate (Regulation and Development) Act, 2016 by allottee? - Imprisonment for upto 1 year - With fine for every day during which default continues which may cumulatively extend up to 10% of the estimated project cost - Community service upto 6 months - With fine for every day during which default continues which may cumulatively extend upto 5% of the estimated project cost
- Which of the following statements are correct under the Real Estate Appellate Tribunal (Regulation and Development) Act, 2016? - The salary and allowances payable to, and the other terms and conditions of service of, the Chairperson and other Members shall be such as may be prescribed and shall not be varied to their disadvantage during their tenure. - The Chairperson and Members shall hold office for a term not exceeding five years from the date on which they enter upon their office, or until they attain the age of sixty-five years, whichever is earlier and shall not be eligible for reappointment - The Authority shall consist of a Chairperson and not less than two whole-time members to be appointed by the appropriate Government. - The salary and allowances payable to, and the other terms and conditions of service of, the Chairperson and other Members shall be such as may be prescribed and shall not be varied to their disadvantage during their tenure.
- Which of the following statements are correct under the Real Estate Appellate Tribunal (Regulation and Development) Act, 2016? - The salary and allowances payable to, and the other terms and conditions of service of, the Chairperson and other Members shall be such as may be prescribed and shall not be varied to their disadvantage during their tenure. - The Chairperson and Members shall hold office for a term not exceeding five years from the date on which they enter upon office, or until they attain the age of sixty-five years, whichever is earlier and shall not be eligible for reappointment. - The Authority shall consist of a Chairperson and not less than two whole-time members to be appointed by the appropriate Government. - The salary and allowances payable to, and the other terms and conditions of service of, the Chairperson and other Members shall be such as may be prescribed and shall not be varied to their disadvantage during their tenure.
- Which of the following statements are correct as per Electricity Act, 2003? - There shall be a Commission to be known as the Central Electricity Regulatory Commission to exercise the powers conferred on, and discharge the functions assigned to it under this Act. - The Central Commission shall be a body corporate by the name aforesaid, having perpetual succession and a common seal with power to acquire, hold and dispose of property, both movable and immovable, and to contract and shall, by the said name, sue or be sued. - The head office of the Central Commission shall be at such place as the Central Government may, by notification, specify. - The Chairperson and Members of the Central Commission shall be appointed by the Central Government on the recommendation of the Selection Committee referred to in section 78.
- Which of the following statements are correct as per Food Safety and Standards Act, 2006? - The Food Authority shall meet at the head office or any of its offices at such time as the Chairperson may direct, and shall observe such rules of procedure in regard to the transaction of business at its meetings (including the quorum at its meetings) as may be specified by regulations. - If the Chairperson is unable to attend a meeting of the Food Authority, any other Member nominated by the Chairperson in this behalf and, in the absence of such nomination or where there is no Chairperson, any Member chosen by the Members present from amongst themselves, shall preside at the meeting. - Any person aggrieved by a decision or order of a Special Court may, on payment of such fee as may be prescribed by the Central Government and after depositing the amount, if any, imposed by way of penalty, compensation or damage under this Act, after forty-five days from the date on which the order was served, prefer an appeal to the High Court. - An appeal preferred under this section shall be disposed of by the High Court by a bench of less than two judges.
- Which of the statements are correct as per the Sale of Goods Act, 1930? (i) Where the buyer wrongfully neglects or refuses to accept and pay for the goods, the seller shall sue him for damages for non-acceptance. (ii) Where the seller wrongfully neglects or refuses to deliver the goods to the buyer, the buyer shall sue the seller for damages for non-delivery. (iii) Subject to the provisions of Chapter II of the Specific Relief Act, 1877 (1 of 1877), in any suit for breach of contract to deliver specific or ascertained goods, the Court may, if it thinks fit, on the application of the plaintiff, by its decree direct that the contract may be performed specifically, that the defendant deliver the goods on payment of damages. The decree may be unconditional, or upon such terms and conditions as to damages, payment of the price or otherwise, as the Court may deem just, and the application of the plaintiff may be made at any time before the decree. (iv) Where either party to a contract of sale repudiates the contract before the date of delivery, the other may either treat the contract as subsisting and wait till the date of delivery, or he may treat the contract as rescinded and sue for damages for the breach.
- Which statement is correct as per the Insurance Act, 1938? (i) Every insurer shall be subject to all the provisions of this Act in relation to any class of insurance business so long as his liabilities in India in respect of business of that class remain unsatisfied or otherwise provided for. (ii) Every application for registration shall be made in such manner and shall be accompanied by such documents as may be specified by the regulations. (iii) Where the Authority refuses registration, it shall record the reasons for such decision and shall furnish a copy thereof to the applicant. (iv) Any person aggrieved by the decision of the Authority refusing registration shall, within thirty days from the date on which a copy of the decision is received by him, appeal to the Securities Appellate Tribunal.