Multiple choice

'Price' under Section 2(10) of The Sale of Goods Act, 1930 means

  1. money or money's worth

  2. monetary consideration for the sale of goods

  3. any consideration that can be expressed in terms of money

  4. none of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Under Section 2(10) of the Sale of Goods Act, 1930, 'price' means the monetary consideration for the sale of goods. While consideration generally can be money's worth, the Act specifically defines price in monetary terms. Option B is the correct statutory definition. Option A is too broad (money's worth includes non-monetary consideration), Option C is even broader, and Option D is incorrect as B is accurate.

Keep practicing — related questions