Legal Environment of Business - Module 3 – Part 1 MBA - MG University - Busi...manumelwin
Section 13 (1) of the Negotiable Instruments Act states that “ A Negotiable Instruments means a promissory note, bill of exchange or cheque payable either to order or to bearer.”
Legal Environment of Business - Module 3 – Part 1 MBA - MG University - Busi...manumelwin
Section 13 (1) of the Negotiable Instruments Act states that “ A Negotiable Instruments means a promissory note, bill of exchange or cheque payable either to order or to bearer.”
The concept of this presentation deeply summarized 66 sections of The Sale of Goods Act 1930 including contract of sale, agreement to sale, difference between sale and agreement to sell, essentials of contract of sale, goods, classification of goods, existing goods, specific goods, ascertained goods, unascertained goods, future goods, contingent goods, transfer of ownership, price, acceptance, stipulation, condition and warranty, difference between condition & warranty, express and implied conditions, express and implied warranties, breach of condition, breach of warranty, Doctrine of Caveat Emptor, Exceptions to Doctrine of Caveat Emptor, Doctrine of Caveat Venditor, transfer of property, delivery of goods, rights of unpaid seller, rights against goods, rights against buyer, rights against seller, auction sale, Baldry vs. Marshall Case Analysis and Grant vs. Australian Knitting Mills Ltd Case.
This presentation is made by Toran Lal Verma. The presentation deals with performance of contract under sale of goods act, 1930. Rights and Duties of Unpaid seller is also dicussed in detail.
Introduction
Definition of contract of sale
Essential elements of contract of sale
Formalities of contract of sale
Sale & Agreement to sell
Difference between sale & agreement to sale
Goods and their classification
Price
Condition & warranties
Unpaid seller
Rights of unpaid seller
This presentation talks about the various aspects of Dishonour of cheque under Negotiable Instrumenmts Act 1881.
The presentation has been prepared as a project work and from basic research and understanding of law.
It must not be taken as any guidance, advise or any advertising on any part.
The concept of this presentation deeply summarized 66 sections of The Sale of Goods Act 1930 including contract of sale, agreement to sale, difference between sale and agreement to sell, essentials of contract of sale, goods, classification of goods, existing goods, specific goods, ascertained goods, unascertained goods, future goods, contingent goods, transfer of ownership, price, acceptance, stipulation, condition and warranty, difference between condition & warranty, express and implied conditions, express and implied warranties, breach of condition, breach of warranty, Doctrine of Caveat Emptor, Exceptions to Doctrine of Caveat Emptor, Doctrine of Caveat Venditor, transfer of property, delivery of goods, rights of unpaid seller, rights against goods, rights against buyer, rights against seller, auction sale, Baldry vs. Marshall Case Analysis and Grant vs. Australian Knitting Mills Ltd Case.
This presentation is made by Toran Lal Verma. The presentation deals with performance of contract under sale of goods act, 1930. Rights and Duties of Unpaid seller is also dicussed in detail.
Introduction
Definition of contract of sale
Essential elements of contract of sale
Formalities of contract of sale
Sale & Agreement to sell
Difference between sale & agreement to sale
Goods and their classification
Price
Condition & warranties
Unpaid seller
Rights of unpaid seller
This presentation talks about the various aspects of Dishonour of cheque under Negotiable Instrumenmts Act 1881.
The presentation has been prepared as a project work and from basic research and understanding of law.
It must not be taken as any guidance, advise or any advertising on any part.
Sales of goods act - Warranty - Legal Environment of Business - Business Law ...manumelwin
A warranty is a stipulation collateral to the main purpose of the contract, the breach of which gives rise to a claim for damages but not to a right to reject the goods and treat the contact as repudiated.
Volkswagen Hidden Advert - Gamification in Recruitment - Dr. Manu Melwin Joymanumelwin
For more interesting case studies and updates about Gamification, visit my website
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The Swedish Armed Forces are recruiting. They need young men and women for an occupation that in many ways is about giving up your own safety in order to help others. They wanted to activate the target group while simultaneously raising the question. Would people sacrifice their own freedom for someone they have no relation to? Are people prepared to show that they care in ways that don’t include sharing something on Facebook or tweeting a specific hash-tag?
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For more interesting case studies and updates about Gamification, visit my website
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In an attempt to recruit a large number of workers for their new megastore in Australia, IKEA amusingly decided to include what they called ‘Career Instructions’ into each of their flat packs. Based on their traditional furniture instructions, all customers took home the witty application forms without realising. The clever initiative not only minimised the costs on advertising, but it also ensured IKEA fans were targeted.
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For more interesting case studies and updates about Gamification, visit my website
https://www.youtube.com/channel/UCm_r2ZYJJBwGJ2rAaRNTNBA/videos
One great historical example of gamification is the Daily Telegraph’s crossword, which British Intelligence agents created along with Alan Turing, to help them recruit new code breakers from the public.
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Ducan’s multiple range test - - Dr. Manu Melwin Joy - School of Management St...manumelwin
In 1955, Duncan devised a method to compare each treatment mean with every other treatment mean. The procedure is simple and powerful and has become very popular among researchers, especially in the plant science area.
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Design of experiments - Dr. Manu Melwin Joy - School of Management Studies, C...manumelwin
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Internet revolution - Dr. Manu Melwin Joy - School of Management Studies, Coc...manumelwin
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http://sandymillin.wordpress.com/iateflwebinar2024
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Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
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This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
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2. Prepared By
Manu Melwin Joy
Assistant Professor
Ilahia School of Management Studies
Kerala, India.
Phone – 9744551114
Mail – manu_melwinjoy@yahoo.com
Kindly restrict the use of slides for personal purpose.
Please seek permission to reproduce the same in public forms and presentations.
3. 1. Sales and types of sales.
2. Types of sales.
3. Contract of sales.
4. Agreement of sales.
5. Essential elements of a contract of sale.
4. 1. Good – Definition.
2. Types of goods.
3. Perishing of goods.
4. Price and fixation of price.
5. • Definition of condition.
• Essential features of condition.
• Implied conditions.
• Caveat Emptor.
6. • Definition of Warranty.
• Essential features of Warranty.
• Implied Warranty.
• Difference between condition and warranty.
7. Sales
• Where the right of
ownership in the goods
is transferred from the
seller to the buyer, the
contract is called a sale.
9. Contract of sale
• A contract of sale of
goods is a contract
whereby the seller
transfers or agrees to
transfer the property of
goods to the buyer for a
price. Property means
the right of ownership.
10. Agreement to sale
• Where the transfer of
ownership in the goods
is to take place at a
future time or subject to
some conditions
thereafter to be fulfilled,
the contract is called
agreement to sell.
11. Essential elements of a contract of
sale
1. Contract.
2. Existence of two parties namely buyer and
seller.
3. Transfer of ownership.
4. Subject matter of sale of goods.
5. Price.
12. Goods
• The goods include every
kind of movable
property other than
actionable claim or
money.
14. Perishing of goods
• Perishing of specific
goods before making of
the contract – Where
there is a contract for the
sale of specific goods and
if they perish without the
knowledge of the seller,
even before the contract
is made, the contract
becomes void.
15. Perishing of goods
• Goods perishing before
sales but after agreement
to sell – Where contract is
only an agreement to sell
and goods without any
fault of either the seller or
the buyer perish
subsequent to the
contract, then also the
agreement becomes void.
16. Perishing of goods
• Perishing of
unascertained goods:
Where the contract is for
unascertained goods, the
perishing of the good will
not avoids the contract
and the seller will be
liable for damages for the
breach of contract.
17. Fixation of price
The price must be fixed by
both parties at the time of
contract itself.
Both the parties may enter
into an agreement
regarding the manner in
which the price may be
fixed.
18. Mode of payment
In the absence of agreement
to the contrary, the seller is
not bound to accept any kind
of payment other than the
currency of the country. By
common consent, the seller
may accept payment by a
cheque or a draft, bank
guarantee, a letter of credit
or by any other mode.
19. Mode of payment
In the absence of agreement
to the contrary, the seller is
not bound to accept any kind
of payment other than the
currency of the country. By
common consent, the seller
may accept payment by a
cheque or a draft, bank
guarantee, a letter of credit
or by any other mode.
20. Definition
• A condition is a stipulation
essential to the main
purpose of the contract,
the breach of which gives
rise to a right to treat the
contract as repudiated.
21. Essential features of a condition
• It is essential to the main
purpose of the contract.
• The non fulfillment of
condition causes irreparable
damage to the aggrieved party
which would defeat the very
purpose for which the contract
is made.
• The breach of contract gives a
right to the aggrieved party to
rescind the contract and
recover the damages for
breach of condition.
22. Implied conditions
• Conditions as to title of
goods sold – In every
contract of sale, there is
an implied condition that
the seller has got a right
to sell the goods.
23. Implied conditions
• Goods sold should
correspond to description
– Where there is a
contract of sale of goods
by description, there is an
implied condition that the
goods shall correspond
with that description.
24. Implied conditions
• Condition as to quality or
fitness – This is applicable if
– The goods are needed for a
particular purpose which the
buyer brings to the
knowledge of the seller,
either expressly or impliedly.
– The buyer relies on the
seller’s skills and judgment.
– It is seller’s duty to supply by
description.
25. Implied conditions
• Conditions as to
merchantability – Goods
are of mercantile quality if
– They are reasonable by the
description by which they
are known in the market.
– They are purchased for
personal use, they must be
reasonably fit for the
purpose for which they are
generally uses.
26. Implied conditions
• Condition as to
wholesomeness -
Wholesomeness means
physical health. The
provisions supplied must
not only correspond to
description and
merchantable but also
should promote physical
health.
27. Implied conditions
• Condition as to sample –
Whenever we want to
purchase goods, generally
we see some sample of
those goods which we want
to purchase. After seeing
the sample and satisfying
ourselves with the sample,
we will place order asking
the dealers to supply goods
which would correspond to
the sample.
28. Definition
• “Caveat Emptor” is a Latin
expression which means
“Let the buyer beware”.
The doctrine of caveat
emptor means that in a
sale of goods, the seller is
under not duty to reveal
unflattering truths about
the goods. A buyer must
buy goods after satisfying
himself of their quality and
fitness.
29. Definition
• A warranty is a
stipulation collateral to
the main purpose of the
contract, the breach of
which gives rise to a
claim for damages but
not to a right to reject
the goods and treat the
contact as repudiated.
30. Essentials of a warranty
• It is collateral to the main
purpose of the contract.
• The breach of warranty
causes damage to the
aggrieved party and does
not defeat the main
purpose of the contract.
• The aggrieved party can
only claim the damages for
the breach of warranty but
cannot repudiate the
contract.
31. Distinction between a condition and warranty
No Difference Condition Warranty
1 Nature It is fundamental in nature
and essential for main
purpose of contract.
It is supportive and
collateral for the contract.
2 Breach Due to breach of condition,
the contract may be
avoided.
It’s breach may give rise to a
right to claim for
compensation.
3 Treatment Breach of condition can be
treated as a breach of
warranty.
Breach of warranty cannot
be considered as a breach
of condition
32. Implied warranty
• Warranty for quiet
possession – The buyer has
obtained the possession of
goods and if the buyer is in
any way disturbed in the
enjoyment of goods, the
buyer has a right to sue the
seller for damages caused.
33. Implied warranty
• Implied warranty against
encumbrance – The goods are
not subject to any charge or
encumbrance in favor of third
parties which is not disclosed
or known the buyer before or
at any time when the contract
is made.
34. Implied warranty
• Implied warranty as to
usage of trade – An
implied warranty as to
quality or fitness for a
particular purpose may be
fixed by the usage of
trade.