CONDITIONS AND WARRANTIES BUSINESS LAW
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This document presents information on conditions and warranties in contracts for the sale of goods. It defines conditions as essential stipulations and warranties as collateral stipulations made at the time of sale. Breach of a condition allows the buyer to rescind the contract and claim damages, while breach of a warranty only permits damages. Conditions and warranties can be express or implied. The key implied conditions relate to title, description, quality/fitness, wholesomeness, and samples. Implied warranties guarantee quiet possession and freedom from encumbrances. The main difference between conditions and warranties is their importance in the contract and the consequences of breach.
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Conditions and warranties
This document discusses conditions and warranties in contracts for the sale of goods. It defines a condition as a fundamental term of the contract, the breach of which allows the buyer to reject the goods and claim damages. A warranty is a collateral term, the breach of which only allows damages but not rejection. The document outlines the differences between conditions and warranties. It also discusses implied conditions and warranties imposed by law, such as title, description, fitness for purpose, and merchantability. The document provides examples to illustrate these legal concepts.
Sales of goods act
This document provides an overview of key concepts relating to contracts for the sale of goods under Indian law. It begins with an introduction to the Sale of Goods Act of 1930 and then covers general principles such as the definition of a contract of sale and the distinction between a sale and agreement to sell. It also discusses essential elements, types of goods, transfer of ownership, and risks related to perishing or damaged goods. The document then addresses concepts like price, rights of unpaid sellers, conditions and warranties, and concludes with a section on auction sales.
Sales of goods act 1930
The document provides an overview of key concepts from the Sale of Goods Act in India, including:
- The essential elements of a valid contract of sale under the Act.
- The distinction between a sale (where ownership transfers immediately) and an agreement to sell (where ownership transfers at a future date).
- The types of goods covered by the Act (existing, future, contingent) and documents that constitute "documents of title to goods".
- The difference between conditions and warranties in a contract of sale, and implied vs. express conditions/warranties.
- Exceptions to the doctrine of caveat emptor and rights of an unpaid seller, including the right of lien, stop
Bailment and pledge
This document discusses bailment and pledge under Indian contract law. It defines bailment as the delivery of goods by one person to another for a specific purpose, to be returned after. The person delivering the goods is the bailor and the person receiving them is the bailee. Bailment can be gratuitous (without payment) or for a reward. A pledge is a type of bailment where goods are delivered as security for a debt. The document outlines the essential elements, types, duties of bailors/bailees, rights of bailors/bailees, and termination of bailment. It compares bailment to sale and bailment to pledge.
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This document provides an introduction to contracts of indemnity and guarantee under Indian contract law. It defines a contract of indemnity as one where one party promises to save another from loss caused by the conduct of the promisor or a third party. A contract of guarantee is defined as a promise to perform or discharge the liability of a third party in case of their default. The key parties in each are identified. Essentials and rights under each contract are outlined, along with differences between the two types of contracts.
Quasi contract
A quasi-contract is an obligation imposed by law that requires one party to compensate another party. It arises in situations where there is no valid contract but where justice demands compensation be provided. Key features of a quasi-contract include that it is not based on a formal agreement and can only be enforced against specific individuals involved in the situation, not the world at large. Common examples include a plumber mistakenly installing a sprinkler system and then being required to be paid, or goods being left at someone's house by mistake and the person keeping the goods for their own use. The goal of a quasi-contract is to prevent unjust enrichment at another's expense.
Sale of goods act, 1930(conditions and warranties )
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Conditions and warranties
This document discusses conditions and warranties in contracts for the sale of goods. It defines a condition as a fundamental term of the contract, the breach of which allows the buyer to reject the goods and claim damages. A warranty is a collateral term, the breach of which only allows damages but not rejection. The document outlines the differences between conditions and warranties. It also discusses implied conditions and warranties imposed by law, such as title, description, fitness for purpose, and merchantability. The document provides examples to illustrate these legal concepts.
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- The essential elements of a valid contract of sale under the Act.
- The distinction between a sale (where ownership transfers immediately) and an agreement to sell (where ownership transfers at a future date).
- The types of goods covered by the Act (existing, future, contingent) and documents that constitute "documents of title to goods".
- The difference between conditions and warranties in a contract of sale, and implied vs. express conditions/warranties.
- Exceptions to the doctrine of caveat emptor and rights of an unpaid seller, including the right of lien, stop
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This document discusses bailment and pledge under Indian contract law. It defines bailment as the delivery of goods by one person to another for a specific purpose, to be returned after. The person delivering the goods is the bailor and the person receiving them is the bailee. Bailment can be gratuitous (without payment) or for a reward. A pledge is a type of bailment where goods are delivered as security for a debt. The document outlines the essential elements, types, duties of bailors/bailees, rights of bailors/bailees, and termination of bailment. It compares bailment to sale and bailment to pledge.
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Quasi contract
A quasi-contract is an obligation imposed by law that requires one party to compensate another party. It arises in situations where there is no valid contract but where justice demands compensation be provided. Key features of a quasi-contract include that it is not based on a formal agreement and can only be enforced against specific individuals involved in the situation, not the world at large. Common examples include a plumber mistakenly installing a sprinkler system and then being required to be paid, or goods being left at someone's house by mistake and the person keeping the goods for their own use. The goal of a quasi-contract is to prevent unjust enrichment at another's expense.
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Condition and warranties..
1. A contract of sale may contain stipulations known as conditions or warranties. Conditions and warranties can be express or implied. Implied conditions and warranties are included in the contract by law unless expressly excluded.
2. The key implied conditions include: condition as to title, sale by description, condition as to quality/fitness, condition as to merchantability, condition implied by custom, and sale by sample. Key implied warranties include: warranty of quiet possession, warranty of freedom from encumbrances, and warranty as to quality/fitness by usage of trade.
3. Implied conditions and warranties can be excluded by express agreement, course of dealing, or custom/usage of trade
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2. Rights against the buyer personally, such as suing for the price of goods, damages for non-acceptance, or special damages and interest.
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The document summarizes key aspects of The Sale of Goods Act, 1930 in India. It defines a contract of sale as an agreement where the seller transfers property in goods to the buyer for a price. A contract of sale must have two parties, goods, a price, and a transfer of ownership. The document outlines conditions and warranties, exceptions to caveat emptor, transfer of ownership including by non-owners, performance of the contract by buyers and sellers, and the rights of unpaid sellers against goods and buyers.
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unit 2.pptx
The Sale of Goods Act 1930 governs contracts for the sale of goods in India. It defines key terms including sale, agreement to sell, existing and future goods. The Act implies certain conditions and warranties in contracts for the sale of goods regarding title, description, sample, merchantability and fitness for purpose. It addresses performance of sales contracts through delivery of goods and payment. The Act provides rights to unpaid sellers, including the right to sue for the unpaid price or damages.
The sales of goods act 1930
The document discusses key concepts in contracts for the sale of goods under Indian law, including:
- A contract for the sale of goods involves the transfer of property in goods from a seller to a buyer for a price. It can be a sale (immediate transfer of property) or agreement to sell (future transfer).
- Essential elements are two parties (buyer and seller), goods to be transferred, and a price. The goods must be movable property.
- Conditions are essential terms, while warranties are collateral terms. Breach of a condition allows terminating the contract, while breach of a warranty only allows damages.
- Implied conditions include title, description, quality/fitness depending on context
sale of goods act
This document summarizes key aspects of the Sale of Goods Act 1930 in India. It defines a contract for sale of goods and outlines essential elements like two parties, goods as the subject matter, price, and agreement to transfer ownership. A distinction is made between a sale, which immediately transfers property, and an agreement to sell, which transfers property at a future date. Conditions and warranties are defined, with conditions being essential to the main purpose and warranties being collateral. Breach of a condition allows contract repudiation while breach of a warranty only allows damages. Exceptions are noted where a breach of condition is treated as a breach of warranty.
indian sale of goods act
This document summarizes key aspects of the Sale of Goods Act 1930 in India. It defines a contract for sale of goods and outlines essential elements like two parties, goods as the subject matter, price, and agreement to transfer ownership. A distinction is made between a sale, which immediately transfers property, and an agreement to sell, which transfers property at a future date. Goods are classified as existing, future, or contingent. A breach of condition allows repudiation of the contract while a breach of warranty only allows damages claims. Acceptance of goods usually treats a condition breach as a warranty breach.
Chapter 4 sale of goods act, 1930new.1
The Sale of Goods Act, 1930 governs contracts for the sale of goods in India. It defines a contract of sale as one where the seller transfers ownership of goods to the buyer for a price. The Act implies certain conditions and warranties in contracts of sale regarding title, quality, description, and fitness of goods. It also discusses the rights and obligations of buyers and unpaid sellers, including the seller's right to stop goods in transit or resell them to recover unpaid price. The key principle of caveat emptor also applies, subject to certain exceptions.
Sales Of Goods Act Doc
This document provides an overview of key concepts from the Sales of Goods Act of India including:
1. It outlines the essential elements of a valid contract of sale including two parties (buyer and seller), goods, price, and transfer of property.
2. It distinguishes between a sale, where property transfers immediately, and an agreement to sell, where property transfers later upon fulfillment of conditions.
3. It defines and compares conditions and warranties, with conditions going to the essence of the contract and warranties being collateral obligations where breach results in damages but not repudiation of the contract.
Sales Of Goods Act
This document provides an overview of key concepts from the Sales of Goods Act in India, including:
1) It defines a contract of sale and lists the essential elements, including two parties (buyer and seller), goods, a price, and the transfer of property.
2) It distinguishes between a sale, where property transfers immediately, and an agreement to sell, where property transfers later.
3) It explains the differences between conditions and warranties, where a breach of a condition allows contract repudiation but a breach of a warranty only allows damages claims.
4) It discusses implied conditions and warranties that may exist in a contract of sale regarding title, description, sample, and fitness for
B.law ppt condition and warranty.pptx
This document discusses the key differences between conditions and warranties in contracts of sale under business law. It defines conditions as essential stipulations whose breach allows the non-breaching party to terminate the contract. Warranties are collateral stipulations whose breach only allows a claim for damages and not termination. The document provides examples and outlines implied conditions like title, description, sample, quality or fitness. It also discusses implied warranties and exceptions to the doctrine of caveat emptor (let the buyer beware). In summary, the document analyzes the contractual terms of conditions and warranties and how they impact rights and remedies in cases of breach.
Sale of goods act
The document discusses key concepts in Indian contract law relating to the sale of goods, including:
- Formation of sales contracts through offer and acceptance.
- Implied conditions and warranties in contracts.
- Rights and obligations of buyers and sellers in performing contracts, including delivery of goods, payment, and remedies for breach.
- Concepts relating to unpaid sellers, including rights of lien, stoppage in transit, and resale.
Llb sc u 2 law of sales
The Sale of Goods Act governs the sale of movable property in India. It applies to tangible movable goods, excluding money and actions. Goods may be existing, future or contingent. A sale involves transferring ownership, while an agreement to sell involves future or conditional transfer. Key elements of a valid contract of sale are movable goods, consideration in the form of money, two parties (buyer and seller), and mutual agreement. The Act implies certain conditions and warranties depending on the type of sale, regarding title, description, sample or fitness for purpose. Remedies for breach include damages, rejection, and specific performance.
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CONDITIONS AND WARRANTIES BUSINESS LAW
- 1. BUSINESS LAW PRESENTATION ON THE TOPIC CONDITIONS AND WARRANTIES PRESENTED BY ROHAN GOYAL OF BCOM PART 1 INSPIRED BY HONOURABLE PROFESSOR DEEPAK GOYAL(EX MD AT ECCC) FOLLOW ME ON INSTAGRAM www.instagram.com/ronieluvkorea CONTACT ME +917009820743 ADD ME ON FACEBOOK www.facebook.com/rohan.goyal.372661
- 2. CONDITIONS AND WARRANTIES A STIPULATION GIVEN AT THE TIME OF MAKING THE CONTRACT OF THE SALES IN THE RESPECT OF THE PROPERTY OF THE GOODS IS KNOWN AS CONDITIONS AND WARRANTIES. STIPULATIONS CONDITIONS WARRANTIES
- 3. MEANING OF CONDITION Condition is the stipulation given at the time of making the contract which is essential for the main purpose of the contract and the condition can become warranty. ESSENTIAL ELEMENTS OF THE CONDITION 1.Essential for the main purpose of the contract 2.Breach of the condition destroy the very purpose of the contract. 3.Breach of the condition gives the buyer the right to claim damages and right to rescind the contract. www.instagram.com/ronieluvkorea
- 4. MEANING OF THE WARRANTY Warranty is the stipulation given at the time of the making the contract of the sales which is collateral to the main purpose of the contract and the warranty cannot become the condition. ESSENTIAL ELEMENTS OF THE WARRANTY 1.It is the collateral to the main purpose of the contract. 2.Breach of the warranty do not destroy the very purpose of the contract. 3.Breach of the warranty gives right to only claim damages and buyer cannot rescind the contract. www.instagram.com/ronieluvkorea
- 5. CLASSIFICATION OF CONDITIONS AND WARRANTIES EXPRESS IMPLIED EXPRESS CONDITIONS AND WARRANTIES Express conditions and warranties are those stipulations which are formed by the agreement between the buyer and seller at the time of making the contract of sales. www.instagram.com/ronieluvkorea
- 6. IMPLIED CONDITIONS 1.CONDITION AS TO TITLE:The person who had right to sell the goods can only transfer the ownership to the another person and this is known as condition as to title. The person who do not have right to sell the goods cannot transfer the goods better than owner of the goods. 2.SALE DESCRIPTION:There is implied condition that seller should sell the goods equal to the description given by him to the buyer. Sale description can include: a. When the buyer had seen the goods. b. When the buyer had seen the goods but had trust on the seller’s words. www.instagram.com/ronieluvkorea
- 7. 3.CONDITION AS TO QUALITY OR FITNESS: The condition as to quality or fitness can be implied if the buyer had made the purpose known to the seller, he relies on the seller’s skills and judgement, and the seller deals in the goods that can fulfil the purpose. 4.CONDITION AS TO WHOLELSOME: There is implided conditon that goods transferred should be fit for the consumption as it should not contain stones and any other harmful material. 5.SALE BY SAMPLE:There is implied condition on the part of the seller that the goods transfered should match with the sample shown to the buyer at the making of the contract of sales. www.instagram.com/roneiluvkorea
- 8. IMPLIED WARRANTIES 1.IMPLIED WARRANTY OF QUIET POSSESION: There is implied warranty that after the transfer of possesion, the buyer can freely use the goods and seller and no third party will going to interfere in the use of the goods. 2.IMPLIED WARRANTY OF FREE FROM ENCUBERNCE: There is implied warranty that property of goods transferred should be from any charge and the goods should not kept intially as pledge for the performance of promise of repaying debt. www.instagram.com/ronieluvkorea
- 9. DIFFERENCE BETWEEN CONDITION AND WARRANTY 1.IMPORTANCE IN THE CONTRACT: The condition is essential for the main purpose of the contract and the warranty is collateral for the main purpose of the contract. 2.CONSEQUENCE OF BREACH: The breach of the condition gives the right to rescind the contract, right to claim damages and the breach of the warranty gives to right to only claim damages. 3.OPTION OF THE TREATMENT: The buyer can treat condition as the warranty but cannot treat warratny as the condition. www.instagram.com/ronieluvkorea
- 10. CONCLUSION AFTER ANALYISING THE CONDITONS AND WARANTIES WE CAN CONCLUDE THAT BREACH OF THE CONDITION CAN BE TREATED AS BREACH OF THE WARRANTY WHEN THE BUYER USES ONLY RIGHT TO CLAIM DAMAGES ON THE BREACH OF THE CONDITION.