Explanation:

Here’s the thing:

- “A contract for sale is not transfer of ownership.”

Let’s unpack that.

- When two parties sign a sale contract, the ownership doesn’t move to the buyer right away.

- The contract only sets up the terms—it creates a *personal* right, not an immediate transfer of property.

- Actual ownership passes later, when either delivery happens or conditions are met (Section 19, Sale of Goods Act, 1930).

Here’s what the options really mean:

- Option 1: Absolutely True — This nails it. The contract alone doesn’t transfer ownership.

- Option 2: Absolutely False — This isn’t right. Ownership doesn’t just magically change hands because there’s a signature.

- Option 3: Partly True — Not quite. There’s no “partly”—ownership still hasn’t transferred.

- Option 4: Partly False — Same deal; the statement is just true, not partly.