According Section 52 of the Transfer of Property Act 1932, where a contract creating partnership is rescinded on the ground of fraud or misrepresentation...
According to section 118 of transfer of property Act 1882, 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"
Section 54 of the Transfer of Property Act, 1882 defines sale, "Sale" is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised.