Transfer of Property Act, 1882 · Chapter VI: Of Exchanges
Section 120: Rights and liabilities of parties
In plain words
In an exchange, each party has the rights and duties of a seller for what they give, and of a buyer for what they take.
A simplified explanation, prepared with AI assistance from the official text below and checked automatically against it for numbers and cross-references. The official text is the law and prevails over this summary. Not legal advice.
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 the rights and is subject to the liabiliti es of a buyer as to that which he takes.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 120
No Supreme Court judgment in our database cites this section yet.