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Discussion

CAT 2009 Result
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Directions: The following question consists of a legal proposition/principle and facts. This principle has to be applied to the given facts to arrive at the most reasonable conclusion. Such principle may or may not be true in the real sense, yet you have to conclusively assume it to be true for the purpose of the question. In other words, in answering the question, you must not rely on any principle, except the principle that is given below for the given question. Further, you must not assume any facts other than the facts stated in the question. The objective of this question is to test your interest towards study of law, research aptitude and problem solving ability, even if the 'most reasonable conclusion' arrived at may be unacceptable for any other reason. It is not the object of this question to test your knowledge of law.

Principle: Under Transfer of Property Act, 1882, "Transfer of ownership in exchange for a price paid or promised or part-paid and part-promised is a sale".
Facts: "A made a contract with X to transfer his property of Rs. 10 lakh, provided that X win money in lottery".

Which of the following is correct?

 
It is a valid sale.
It is an invalid sale.
Sale by A is voidable.
None of these

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