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    A transaction of sale is defined as the exchange of one commodity for another with the consent of both parties. For a sale to be valid, it requires an offer and acceptance between the parties where both the offer and acceptance are stated in the past tense, as if one party said "I sold this to you" and the other replied "I bought it from you." The document provides definitions and requirements for a basic sale transaction.

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    A transaction of sale is defined as the exchange of one commodity for another with the consent of both parties. For a sale to be valid, it requires an offer and acceptance between the parties where both the offer and acceptance are stated in the past tense, as if one party said "I sold this to you" and the other replied "I bought it from you." The document provides definitions and requirements for a basic sale transaction.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    11 views1 page

    Business Made Easy

    Uploaded by

    masrur.hussain2144
    A transaction of sale is defined as the exchange of one commodity for another with the consent of both parties. For a sale to be valid, it requires an offer and acceptance between the parties where both the offer and acceptance are stated in the past tense, as if one party said "I sold this to you" and the other replied "I bought it from you." The document provides definitions and requirements for a basic sale transaction.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    of 1

    Kitaabul Buyoo’

    (Business Transactions)

    No 1. General

    Q1: What is (the definition of) a transaction of sale?

    Ans: It is the exchange of one commodity for another commodity with the (happy)
    consent of the transactors.

    Q2: How is a sale contracted?

    Ans: A sale is contracted with offer and acceptance, which is effected in the past tense
    (i.e. the words used for the offer and acceptance are to be in the past tense). It will be as
    though one of the transactors (contractors) is saying: “I sold (this article) to you” and the
    other is saying: “I have bought it from you.”

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