The Transfer of the Title and Possession of the Goods

question 153

True/False

The transfer of the title and possession of the goods in exchange for money must be intended or anticipated for the Sale of Goods Act to apply.

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Definitions:

Benefits To Consumers

The advantages or improvements in welfare, service, or product quality experienced by consumers.

Cost To Suppliers

The total expenses incurred by suppliers in the process of producing and selling goods or services.

Externality

A consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative.

Market Failure

Situations where the allocation of goods and services by a free market is not efficient, often requiring government intervention.