is a transfer of ownership is exchange for a price paid or promised or part paid and part promised ........

Transfer of Property Act SALES OF PROPERTY

__________is a transfer of ownership is exchange for a price paid or promised or part paid and part promised

Sale

Mortgage

Pledge

Exchange

- Sale:

- A sale is a transfer of ownership in exchange for a price paid or promised.

- Payment can be part upfront and part deferred.

- It's a complete transfer, where the seller relinquishes all rights to the buyer.

- Correct Answer

- Mortgage:

- A mortgage involves using property as security for a loan.

- Ownership remains with the borrower unless default occurs.

- Pledge:

- This is a bailment of goods to secure a debt.

- Ownership remains with the pledgor.

- Exchange:

- Exchange involves swapping goods or services without using money.

- It's a barter system rather than a monetary transaction.

Submit Error