Law · Sale of Goods Act, 1930
Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R. Assertion A: A valid contract of sale of goods must include price (money consideration) as an essential element. Reason R: Under the Sale of Goods Act, consideration in a contract of sale is defined purely as the exchange of goods for other goods without any monetary involvement. In the light of the above statements, choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both A and R are correct and R is the correct explanation of A
- 2A is correct but R is not correct✓
- 3Both A and R are correct but R is NOT the correct explanation of A
- 4A is not correct but R is correct
Correct answer
A is correct but R is not correct
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