Question
Under transfer of property Act where two or more
persons mutually transfer the ownership of one thing for the ownership of another, neither thing of both things being money only, the transfer is called:Solution
Transfer of Property Act, 1882 Chapter VI Of Exchanges S. 118. “Exchange” defined.— When two persons mutually transfer the ownership of one thing for the ownership of another neither thing or both things being money only, the transaction is called an “exchange”. A transfer of property in completion of an exchange can be made only in manner provided for the transfer of such property by sale.
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