Transfer of Property Act Section 120 — Rights and liabilities of parties

CHAPTER VI OF EXCHANGES

General

Summary

Each person involved in the exchange is treated as a seller for what they give and as a buyer for what they receive. This means they have the same rights and duties that a seller and a buyer normally have under the law. This rule applies unless the chapter itself says something different for a particular situation.

Official Text

Save as otherwise provided in this Chapter, each party has the rights and is subject to the liabilities of a seller as to that which he gives, and has the rights and is subject to the liabilities of a buyer as to that which he takes.