1 / 11

The Sale of Goods Act 1930

The Sale of Goods Act 1930. Sec 4(3). A contract of sale of goods is a contract, whereby the seller transfers or agrees to transfer the property in the goods to the buyer for a price. 1.There must be at least 2 parties

baby
Télécharger la présentation

The Sale of Goods Act 1930

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Sale of Goods Act 1930

  2. Sec 4(3) • A contract of sale of goods is a contract, whereby the seller transfers or agrees to transfer the property in the goods to the buyer for a price

  3. 1.There must be at least 2 parties • 2. Transfer or agreement to transfer the ownership of goods should take place • 3. Subject matter: Goods • 4. Consideration: Price • 5. May be absolute or conditional • 6. All other essentials of a valid contract must be present

  4. Conditions and Warranties in sales contract • Condition: A condition is a stipulation which is essential to the main purpose of the contract. It goes to the root of the contract. • Warranty: A warranty is a stipulation which is collateral to the main purpose of the contract. It is not of such vital importance as a condition.

  5. Contract of guarantee • The person who gives the guarantee is called the ‘Surety’ • The person for whom the guarantee is given is called as ‘principal debtor’ • The person to whom the guarantee is given is called the as “creditor”

  6. Unpaid seller Sec 45(1) • 1. He must be unpaid and the price is due. • 2. He must have an immediate right of action for the price • 3. A bill of exchange or other negotiable instrument was received but the same has been dishonored.

  7. Rights of an unpaid seller: Against the goods • 1. Right to lien (to retain the possession • 2. Right of stoppage in transit • 3. Right of resale : With or without notice • Against the buyer personally: • 1. Right to sue for the price • 2. Right to sue for damages

  8. Buyer’s Rights against Seller • 1. Damages for Non Delivery (Sec.57) • 2. Specific Performance (Sec.58) • 3. Remedy for breach of Warranty (59)

  9. Doctrine of ‘caveat emptor’ • Exceptions: • Where the seller makes a false representation and the buyer relies on that representation • Seller actively conceals a defect in the goods, so that on a reasonable examination the same could not be discovered • Buyer makes known to the seller, the purpose for which he is buying the goods and the seller should know to sell the goods of that description

More Related