Which of the following is not a common feature between Sale and Exchange ........

Transfer of Property Act Exchanges

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Which of the following is not a common feature between Sale and Exchange:

Both are transfer of property.

The basis of both is contract.

Both require consideration in form of money.

Both require parties.

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Explanation:

Both require consideration in form of money.

The definitions of sale and exchange as provided in Section 54 and 118 of the T. P. Act show that consideration in form of money is not the common feature between the two.

54. "Sale" defined

"Sale" is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised.

118. "Exchange" defined

When two persons mutually transfer the ownership of one thing for the ownership of another, neither thing or both things being money only, the transaction is called an "exchange".

A transfer of property in completion of an exchange can be made only in manner provided for the transfer of such property by sale.