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Principle: Where there is transfer of ownership of one thing for the ownership of some other thing it is called exchange; while transfer of ownership for consideration of money is called sale, whereas, without consideration it becomes gift. Facts: A transfers his house worth 50 Lakhs to B for a shopping building worth the same amount, as consideration, from B.

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Principle: Where there is transfer of ownership of one thing for the ownership of some other thing it is called exchange; while transfer of ownership for consideration of money is called sale, whereas, without consideration it becomes gift. Facts: A transfers his house worth 50 Lakhs to B for a shopping building worth the same amount, as consideration, from B.






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