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Question
Mark the best option:
A nominal sum is given as a token, that the parties are eager about concluding the sale is called
Options
Salutation
Earnest money
Interest
Loan advanced
MCQ
Solution
Earnest money
Earnest money is a way of locking a deal and it binds the party to ensure that the sale takes place in favour of the party that has paid the earnest money or token money.
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Study of Law (Entrance Exams)
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