What is defined as an "exchange" according to Section 118 of the Transfer of Property Act?
1
The transfer of ownership of one thing for the ownership of another, with both things being money only.
2
The transfer of ownership of one thing for the ownership of another, with neither thing or both things being money only.
3
The transfer of ownership of one thing for the ownership of another, with one thing being money only.
4
The transfer of ownership of one thing for the ownership of another, with both things being non-monetary assets.