The document provides an overview of the Sale of Goods Act of 1930 in India. Some key points:
- The Act governs transactions involving the sale of goods in India and defines a contract of sale as one where the seller transfers property rights in goods to the buyer in exchange for a price.
- For a contract of sale to be valid, there must be at least two parties (buyer and seller), a transfer or agreement to transfer ownership of goods, the subject matter must be goods as defined by the Act, and consideration in the form of a price must be present.
- A sale involves the immediate transfer of ownership, while an agreement to sell involves a future transfer subject to conditions. The risks and
The document discusses key concepts from the Sale of Goods Act 1930 in India. It defines a contract of sale as one where a seller transfers property in goods to a buyer for a price. Essential elements are two parties, transfer of ownership of goods, goods as the subject matter, and price as consideration. A sale involves immediate transfer of ownership, while an agreement to sell involves future transfer. The effect of perishing of goods depends on whether it was specific goods before or after the contract. Conditions relate to essential terms, while warranties are subsidiary terms, and breach of conditions can void a contract versus damages for breach of warranties.
The document provides an overview of the Sale of Goods Act of 1930 in India. It defines a contract of sale as the transfer of property in goods from a seller to a buyer for a price. It outlines the essential elements of a valid sale contract and distinguishes between a sale and agreement to sell. It also defines goods, classifies different types of goods, and discusses documents of title related to goods.
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 in exchange for a price. For a contract of sale to be valid, there must be at least two parties (a seller and buyer), a transfer or agreement to transfer ownership of goods, the goods must be movable property, and a price must be paid in money. A sale involves immediate transfer of ownership, while an agreement to sell involves future transfer. Breach of a condition allows rejection of goods, while breach of a warranty only allows damages unless treated as a condition.
The document discusses key concepts related to contracts of sale and consumer laws in India. It begins by defining a contract of sale under the Sale of Goods Act and outlines the essential elements, including two parties (buyer and seller), agreement to transfer property in goods from seller to buyer for a price. It also distinguishes between a sale and agreement to sell. The document then discusses implied conditions and warranties in contracts of sale, the difference between conditions and warranties, and key cases. It provides examples of various types of goods and concludes with an overview of a consumer's rights under consumer protection laws.
The document discusses key concepts from the Sale of Goods Act including:
1) It defines a contract of sale as an agreement where a seller transfers ownership of goods to a buyer in exchange for a price.
2) Essentials of a valid contract of sale are two parties (buyer and seller), transfer of ownership of goods, goods as the subject matter, and price as consideration.
3) A sale involves immediate transfer of ownership, while an agreement to sell involves future transfer of ownership subject to conditions.
4) Goods can be existing, future, or contingent depending on whether they are currently owned/produced or depend on a contingency. The effect of perished goods on a sale contract is also explained
The document discusses key aspects of the Sale of Goods Act in India including:
- The Sale of Goods Act governs contracts for the sale of goods and was enacted in 1930. Previously, sale of goods was governed by the Indian Contract Act of 1872.
- A sale involves the transfer of ownership of goods from the seller to the buyer. An agreement to sell involves the future transfer of ownership subject to conditions.
- For a valid contract of sale there must be two competent parties (buyer and seller), goods must be movable property, consideration must be money in the form of a price, and ownership must be transferred from seller to buyer.
- The document outlines different types of goods like existing, future
The Sale of Goods Act, 1930 defines a contract of sale as the transfer of property in goods from the seller to the buyer for a price. There must be at least two parties, transfer of ownership of goods, the subject matter must be goods, and a price must be paid. A sale involves immediate transfer of ownership while an agreement to sell involves future transfer. If specific goods forming the subject matter perish without fault of either party before the contract, the contract is void. If only part of the goods perish, the contract may be void or valid depending on whether it is entire or divisible.
The document discusses key concepts from the Sale of Goods Act 1930 in India. It defines a contract of sale as one where a seller transfers property in goods to a buyer for a price. Essential elements are two parties, transfer of ownership of goods, goods as the subject matter, and price as consideration. A sale involves immediate transfer of ownership, while an agreement to sell involves future transfer. The effect of perishing of goods depends on whether it was specific goods before or after the contract. Conditions relate to essential terms, while warranties are subsidiary terms, and breach of conditions can void a contract versus damages for breach of warranties.
The document provides an overview of the Sale of Goods Act of 1930 in India. It defines a contract of sale as the transfer of property in goods from a seller to a buyer for a price. It outlines the essential elements of a valid sale contract and distinguishes between a sale and agreement to sell. It also defines goods, classifies different types of goods, and discusses documents of title related to goods.
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 in exchange for a price. For a contract of sale to be valid, there must be at least two parties (a seller and buyer), a transfer or agreement to transfer ownership of goods, the goods must be movable property, and a price must be paid in money. A sale involves immediate transfer of ownership, while an agreement to sell involves future transfer. Breach of a condition allows rejection of goods, while breach of a warranty only allows damages unless treated as a condition.
The document discusses key concepts related to contracts of sale and consumer laws in India. It begins by defining a contract of sale under the Sale of Goods Act and outlines the essential elements, including two parties (buyer and seller), agreement to transfer property in goods from seller to buyer for a price. It also distinguishes between a sale and agreement to sell. The document then discusses implied conditions and warranties in contracts of sale, the difference between conditions and warranties, and key cases. It provides examples of various types of goods and concludes with an overview of a consumer's rights under consumer protection laws.
The document discusses key concepts from the Sale of Goods Act including:
1) It defines a contract of sale as an agreement where a seller transfers ownership of goods to a buyer in exchange for a price.
2) Essentials of a valid contract of sale are two parties (buyer and seller), transfer of ownership of goods, goods as the subject matter, and price as consideration.
3) A sale involves immediate transfer of ownership, while an agreement to sell involves future transfer of ownership subject to conditions.
4) Goods can be existing, future, or contingent depending on whether they are currently owned/produced or depend on a contingency. The effect of perished goods on a sale contract is also explained
The document discusses key aspects of the Sale of Goods Act in India including:
- The Sale of Goods Act governs contracts for the sale of goods and was enacted in 1930. Previously, sale of goods was governed by the Indian Contract Act of 1872.
- A sale involves the transfer of ownership of goods from the seller to the buyer. An agreement to sell involves the future transfer of ownership subject to conditions.
- For a valid contract of sale there must be two competent parties (buyer and seller), goods must be movable property, consideration must be money in the form of a price, and ownership must be transferred from seller to buyer.
- The document outlines different types of goods like existing, future
The Sale of Goods Act, 1930 defines a contract of sale as the transfer of property in goods from the seller to the buyer for a price. There must be at least two parties, transfer of ownership of goods, the subject matter must be goods, and a price must be paid. A sale involves immediate transfer of ownership while an agreement to sell involves future transfer. If specific goods forming the subject matter perish without fault of either party before the contract, the contract is void. If only part of the goods perish, the contract may be void or valid depending on whether it is entire or divisible.
The document summarizes key aspects of the Sale of Goods Act 1930 in India. It defines a contract of sale, outlines essential elements like parties, agreement to transfer goods, consideration in the form of price, and defines sale vs agreement to sell. It also defines goods, distinguishes conditions from warranties, discusses passage of title and exceptions to the caveat emptor rule. In summary:
1) The Sale of Goods Act governs contracts for sale of movable property and defines a sale as transfer of property from seller to buyer for a price.
2) Essential elements of a sale include at least two parties, agreement to transfer ownership of goods, goods as the subject matter, and price as consideration.
3
The document outlines key aspects of the Sale of Goods Act 1930 in India, which governs contracts for the sale of goods. 1) It defines a contract of sale and distinguishes between a sale and agreement to sell. 2) It discusses conditions and warranties that can form part of a sale contract. 3) It covers concepts like caveat emptor (buyer beware), transfer of property, and rights of unpaid sellers. The act aims to provide uniform rules for issues like delivery, risk, remedies for breach that arise in sale of goods transactions.
This document discusses key concepts from Chapter 4 of the Sale of Goods Act 1930. It begins by defining a contract of sale and outlining its essential elements. It distinguishes between a sale, where ownership transfers immediately, and an agreement to sell, where ownership transfers at a future date. It defines goods and documents of title to goods. It discusses classification of goods, the importance of price, and the distinction between conditions and warranties in a contract of sale.
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
The Sale of Goods Act 1930 governs contracts relating to the sale of goods in India except Jammu and Kashmir. It defines key terms like buyer, delivery, and goods. A contract of sale involves an offer and acceptance between two parties for the transfer of goods ownership at a price. It must include goods, parties, price, and the transfer of property. A condition is an essential contract element while a warranty is collateral; a breach of a condition allows contract rejection but a warranty breach only permits damages.
The document discusses key concepts from the Sale of Goods Act 1930 regarding the formation of contracts for the sale of goods in India. It defines a contract for sale of goods as one where the seller transfers or agrees to transfer property in goods to the buyer for a price. The document outlines the differences between a sale, which immediately transfers property, and an agreement to sell, where transfer of property occurs at a future time. It also distinguishes sale contracts from other agreements regarding goods like hire purchase, pledge, mortgage, hypothecation, and lease.
Amity mba ii sem legal aspects of business module iiNilanjan Bhaumik
This document discusses key concepts from the Sale of Goods Act 1930 in India, including:
1. It defines a contract of sale as one where the seller transfers or agrees to transfer property in goods to the buyer for a price. A sale involves immediate transfer of property, while an agreement to sell involves transfer at a future time or upon conditions being met.
2. It outlines essential elements for a valid contract of sale, including two parties, goods as the subject matter, a price, and transfer of general property.
3. It distinguishes between concepts like sale, hire purchase, pledge, mortgage, hypothecation, and lease of goods based on factors like who retains ownership and possession of the
The document provides an overview of the Sale of Goods Act, 1930 in India. Some key points:
- The Act was enacted in 1930 and borrowed from the English Sale of Goods Act. It defines a contract of sale as one where the seller transfers property in goods to the buyer for a price.
- It covers existing and future goods, passing of property between buyer and seller, implied conditions and warranties, remedies for breach, and effects of contracts on transfer of title.
- Key definitions include buyer, seller, goods, price, and conditions versus warranties. The rights and obligations of buyers and sellers are established, including around risk, defects, rejections, and more.
The document provides an overview of the Sale of Goods Act of 1930 in India. Some key points:
- The Act was enacted in 1930 and borrowed from the English Sale of Goods Act. It defines a contract of sale as one where the seller transfers property in goods to the buyer for a price.
- It covers definitions, essential elements of a valid contract of sale, transfer of property and risk between buyer and seller, implied conditions and warranties, remedies for breach, and effects on title when goods are sold by someone without proper authority.
- The Act aims to regulate contracts for the sale of goods and determine rights and obligations of buyers and sellers to promote fairness and protect parties in sale of goods transactions.
The document provides an overview of the Sales of Goods Act of 1930 in India. Some key points:
- The Act regulates contracts for the sale of goods and defines a contract of sale as one where the seller transfers property in goods to the buyer for a price.
- For a contract of sale to be valid, there must be two parties, a transfer of ownership of goods, the subject matter must be goods as defined by the Act, and consideration in the form of a price.
- The Act establishes rules regarding essential elements of a contract, different types of goods, passing of property, delivery procedures, duties of buyers and sellers, and rights of unpaid sellers including lien, stoppage of goods, and
This document provides an overview of key concepts in the Sale of Goods Act 1930 in India. It defines important terms like buyer, seller, goods, and discusses the essential elements of a valid contract of sale. It also examines the implied conditions in a sale regarding title, description, sample, quality and fitness for purpose. The document distinguishes between an agreement to sell future goods and an immediate sale, and outlines the consequences if specific goods are destroyed before or after formation of the contract.
Dr SHIKHA AGARWAL CONTRACT OF SALE --BBA-IB.pdfyelaf54427
This document provides an overview of the Sale of Goods Act 1930 in India. It discusses key concepts around contracts of sale including the essential elements, differences between sale and agreement to sell, goods, price, conditions and warranties, and transfer of ownership. Specifically, it defines a contract of sale under section 4(1) as involving the transfer of property in goods from the seller to the buyer for a price. It also explains the different types of goods, implications of destruction or damage of goods, methods of determining price, and the distinction between conditions and warranties.
The document summarizes key aspects of the Sale of Goods Act 1930 in India. It outlines that in 1930, transactions relating to sale and purchase of goods were regulated separately from the Indian Contract Act 1872 with the passage of the Sale of Goods Act. The Act defines a contract of sale as one where the seller transfers ownership of goods to the buyer for a price. There must be two parties (buyer and seller), goods, transfer of ownership, and a price for a valid contract of sale. A sale involves immediate transfer of ownership while an agreement to sell involves future transfer of ownership. The document also discusses classification of goods, conditions and warranties, rights of unpaid sellers and more.
This document summarizes key concepts from the Sale of Goods Act in India. It discusses:
1) The definition and essentials of a valid contract of sale where ownership is transferred from the seller to the buyer.
2) The distinction between a sale and an agreement to sell, where ownership is transferred at a future date or upon condition fulfillment.
3) Other concepts like hire purchase agreements, pledges, and mortgages.
4) The difference between conditions and warranties in a sale contract and the remedies available to buyers and sellers for breaches.
This 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 ownership of goods to the buyer for a price. The Act distinguishes between sale, where ownership transfers immediately, and agreement to sell, where ownership will transfer in the future. It also defines goods, classifications of goods, conditions and warranties, caveat emptor (buyer beware), transfer of title and risk, and performance of sales contracts. The duties of buyers and sellers are outlined regarding payment, delivery, acceptance of goods, and liability.
The document discusses key concepts from the Sales of Goods Act including:
- A contract of sale involves the transfer of ownership of goods from a seller to a buyer for a price. It can be a sale (immediate transfer of ownership) or agreement to sell (future transfer).
- Essentials of a valid contract of sale include two parties, goods as the subject matter, transfer of general property interest in the goods, and consideration in the form of money price.
- Goods can be existing, future, or contingent. Price must be in monetary terms but does not need to be fixed at the time of sale.
- Key rights and obligations depending on whether a sale or agreement to sell include risk
This document discusses key concepts from the Sales of Goods Act 1930 in India, including the definition of a sale versus an agreement to sell, conditions and warranties, transfer of property, and rights of unpaid sellers. It notes that a sale involves immediate transfer of property, while an agreement to sell involves future transfer. Conditions refer to essential terms, and their breach allows contract repudiation, while warranties cover collateral terms and only allow damages claims. The document outlines implied conditions like title, description, fitness, merchantability, and custom. It also discusses implied warranties, the caveat emptor rule, and exceptions where sellers must disclose flaws.
The Sale of Goods Act 1930 governs contracts for the sale of goods in India. It defines a contract of sale as an agreement whereby the seller transfers ownership of goods to the buyer for a price. The Act distinguishes between a sale, where ownership transfers immediately, and an agreement to sell, where ownership transfers at a later time. It covers essential elements of contracts of sale like parties, goods, price, and transfer of ownership. The Act also establishes rights for unpaid sellers, such as lien, stoppage in transit, and resale of goods.
The Sale of Goods Act was passed in 1930 to regulate contracts for the sale of movable property in India. It defines key terms like buyer, seller, goods and distinguishes between existing goods, future goods, and contingent goods. For a valid contract of sale, there must be two parties (the buyer and seller), goods whose ownership is transferred, an agreed upon price, and the transfer of ownership from the seller to the buyer. The Act governs all transactions that meet these essential elements.
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.
The document summarizes key aspects of the Sale of Goods Act 1930 in India. It defines a contract of sale, outlines essential elements like parties, agreement to transfer goods, consideration in the form of price, and defines sale vs agreement to sell. It also defines goods, distinguishes conditions from warranties, discusses passage of title and exceptions to the caveat emptor rule. In summary:
1) The Sale of Goods Act governs contracts for sale of movable property and defines a sale as transfer of property from seller to buyer for a price.
2) Essential elements of a sale include at least two parties, agreement to transfer ownership of goods, goods as the subject matter, and price as consideration.
3
The document outlines key aspects of the Sale of Goods Act 1930 in India, which governs contracts for the sale of goods. 1) It defines a contract of sale and distinguishes between a sale and agreement to sell. 2) It discusses conditions and warranties that can form part of a sale contract. 3) It covers concepts like caveat emptor (buyer beware), transfer of property, and rights of unpaid sellers. The act aims to provide uniform rules for issues like delivery, risk, remedies for breach that arise in sale of goods transactions.
This document discusses key concepts from Chapter 4 of the Sale of Goods Act 1930. It begins by defining a contract of sale and outlining its essential elements. It distinguishes between a sale, where ownership transfers immediately, and an agreement to sell, where ownership transfers at a future date. It defines goods and documents of title to goods. It discusses classification of goods, the importance of price, and the distinction between conditions and warranties in a contract of sale.
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
The Sale of Goods Act 1930 governs contracts relating to the sale of goods in India except Jammu and Kashmir. It defines key terms like buyer, delivery, and goods. A contract of sale involves an offer and acceptance between two parties for the transfer of goods ownership at a price. It must include goods, parties, price, and the transfer of property. A condition is an essential contract element while a warranty is collateral; a breach of a condition allows contract rejection but a warranty breach only permits damages.
The document discusses key concepts from the Sale of Goods Act 1930 regarding the formation of contracts for the sale of goods in India. It defines a contract for sale of goods as one where the seller transfers or agrees to transfer property in goods to the buyer for a price. The document outlines the differences between a sale, which immediately transfers property, and an agreement to sell, where transfer of property occurs at a future time. It also distinguishes sale contracts from other agreements regarding goods like hire purchase, pledge, mortgage, hypothecation, and lease.
Amity mba ii sem legal aspects of business module iiNilanjan Bhaumik
This document discusses key concepts from the Sale of Goods Act 1930 in India, including:
1. It defines a contract of sale as one where the seller transfers or agrees to transfer property in goods to the buyer for a price. A sale involves immediate transfer of property, while an agreement to sell involves transfer at a future time or upon conditions being met.
2. It outlines essential elements for a valid contract of sale, including two parties, goods as the subject matter, a price, and transfer of general property.
3. It distinguishes between concepts like sale, hire purchase, pledge, mortgage, hypothecation, and lease of goods based on factors like who retains ownership and possession of the
The document provides an overview of the Sale of Goods Act, 1930 in India. Some key points:
- The Act was enacted in 1930 and borrowed from the English Sale of Goods Act. It defines a contract of sale as one where the seller transfers property in goods to the buyer for a price.
- It covers existing and future goods, passing of property between buyer and seller, implied conditions and warranties, remedies for breach, and effects of contracts on transfer of title.
- Key definitions include buyer, seller, goods, price, and conditions versus warranties. The rights and obligations of buyers and sellers are established, including around risk, defects, rejections, and more.
The document provides an overview of the Sale of Goods Act of 1930 in India. Some key points:
- The Act was enacted in 1930 and borrowed from the English Sale of Goods Act. It defines a contract of sale as one where the seller transfers property in goods to the buyer for a price.
- It covers definitions, essential elements of a valid contract of sale, transfer of property and risk between buyer and seller, implied conditions and warranties, remedies for breach, and effects on title when goods are sold by someone without proper authority.
- The Act aims to regulate contracts for the sale of goods and determine rights and obligations of buyers and sellers to promote fairness and protect parties in sale of goods transactions.
The document provides an overview of the Sales of Goods Act of 1930 in India. Some key points:
- The Act regulates contracts for the sale of goods and defines a contract of sale as one where the seller transfers property in goods to the buyer for a price.
- For a contract of sale to be valid, there must be two parties, a transfer of ownership of goods, the subject matter must be goods as defined by the Act, and consideration in the form of a price.
- The Act establishes rules regarding essential elements of a contract, different types of goods, passing of property, delivery procedures, duties of buyers and sellers, and rights of unpaid sellers including lien, stoppage of goods, and
This document provides an overview of key concepts in the Sale of Goods Act 1930 in India. It defines important terms like buyer, seller, goods, and discusses the essential elements of a valid contract of sale. It also examines the implied conditions in a sale regarding title, description, sample, quality and fitness for purpose. The document distinguishes between an agreement to sell future goods and an immediate sale, and outlines the consequences if specific goods are destroyed before or after formation of the contract.
Dr SHIKHA AGARWAL CONTRACT OF SALE --BBA-IB.pdfyelaf54427
This document provides an overview of the Sale of Goods Act 1930 in India. It discusses key concepts around contracts of sale including the essential elements, differences between sale and agreement to sell, goods, price, conditions and warranties, and transfer of ownership. Specifically, it defines a contract of sale under section 4(1) as involving the transfer of property in goods from the seller to the buyer for a price. It also explains the different types of goods, implications of destruction or damage of goods, methods of determining price, and the distinction between conditions and warranties.
The document summarizes key aspects of the Sale of Goods Act 1930 in India. It outlines that in 1930, transactions relating to sale and purchase of goods were regulated separately from the Indian Contract Act 1872 with the passage of the Sale of Goods Act. The Act defines a contract of sale as one where the seller transfers ownership of goods to the buyer for a price. There must be two parties (buyer and seller), goods, transfer of ownership, and a price for a valid contract of sale. A sale involves immediate transfer of ownership while an agreement to sell involves future transfer of ownership. The document also discusses classification of goods, conditions and warranties, rights of unpaid sellers and more.
This document summarizes key concepts from the Sale of Goods Act in India. It discusses:
1) The definition and essentials of a valid contract of sale where ownership is transferred from the seller to the buyer.
2) The distinction between a sale and an agreement to sell, where ownership is transferred at a future date or upon condition fulfillment.
3) Other concepts like hire purchase agreements, pledges, and mortgages.
4) The difference between conditions and warranties in a sale contract and the remedies available to buyers and sellers for breaches.
This 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 ownership of goods to the buyer for a price. The Act distinguishes between sale, where ownership transfers immediately, and agreement to sell, where ownership will transfer in the future. It also defines goods, classifications of goods, conditions and warranties, caveat emptor (buyer beware), transfer of title and risk, and performance of sales contracts. The duties of buyers and sellers are outlined regarding payment, delivery, acceptance of goods, and liability.
The document discusses key concepts from the Sales of Goods Act including:
- A contract of sale involves the transfer of ownership of goods from a seller to a buyer for a price. It can be a sale (immediate transfer of ownership) or agreement to sell (future transfer).
- Essentials of a valid contract of sale include two parties, goods as the subject matter, transfer of general property interest in the goods, and consideration in the form of money price.
- Goods can be existing, future, or contingent. Price must be in monetary terms but does not need to be fixed at the time of sale.
- Key rights and obligations depending on whether a sale or agreement to sell include risk
This document discusses key concepts from the Sales of Goods Act 1930 in India, including the definition of a sale versus an agreement to sell, conditions and warranties, transfer of property, and rights of unpaid sellers. It notes that a sale involves immediate transfer of property, while an agreement to sell involves future transfer. Conditions refer to essential terms, and their breach allows contract repudiation, while warranties cover collateral terms and only allow damages claims. The document outlines implied conditions like title, description, fitness, merchantability, and custom. It also discusses implied warranties, the caveat emptor rule, and exceptions where sellers must disclose flaws.
The Sale of Goods Act 1930 governs contracts for the sale of goods in India. It defines a contract of sale as an agreement whereby the seller transfers ownership of goods to the buyer for a price. The Act distinguishes between a sale, where ownership transfers immediately, and an agreement to sell, where ownership transfers at a later time. It covers essential elements of contracts of sale like parties, goods, price, and transfer of ownership. The Act also establishes rights for unpaid sellers, such as lien, stoppage in transit, and resale of goods.
The Sale of Goods Act was passed in 1930 to regulate contracts for the sale of movable property in India. It defines key terms like buyer, seller, goods and distinguishes between existing goods, future goods, and contingent goods. For a valid contract of sale, there must be two parties (the buyer and seller), goods whose ownership is transferred, an agreed upon price, and the transfer of ownership from the seller to the buyer. The Act governs all transactions that meet these essential elements.
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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This document discusses a study on the effectiveness of digital marketing in India. The study had the following objectives: to understand the effectiveness of digital marketing; compare digital and traditional marketing; examine different forms of digital marketing; and understand why consumers prefer digital marketing. The study hypothesized that there are significant relationships between technology and digital marketing, and between social factors and digital marketing. A survey was conducted of 105 respondents using a Likert scale questionnaire. The data was found to be reliable and both hypotheses were supported, showing relationships between technology/social factors and digital marketing. The conclusion was that digital marketing is effective and influenced by technology, with most respondents active on social media and spending over 2 hours daily online.
The International Monetary Fund (IMF) is an organization of 188 countries that works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty. The IMF began at the 1944 Bretton Woods Conference to prevent economic crises like the Great Depression by regulating international finance and currency exchange rates. Today, the IMF monitors global economic risks and advises member countries on economic policies while providing short-term loans to help nations with balance of payment issues.
The document provides an overview of India's foreign trade policies with respect to EXIM from 2015-2020. It discusses the composition and direction of India's foreign trade, including major export and import sectors. It also outlines India's foreign trade policy framework, objectives of the 2015-2020 policy, and changes introduced compared to previous policies. Finally, it provides a brief history of foreign exchange regulations in India moving from FERA to the newer FEMA.
The document discusses the business cycle and how it affects the overall economy. It explains that the business cycle consists of periods of expansion and contraction that cause the economy and GDP to regularly grow and shrink. During expansions, the economy and GDP grow as unemployment decreases, wages rise, businesses profit and invest more. Eventually expansions peak and turn to contractions, where the opposite occurs - unemployment rises, wages fall, businesses cut back and lay people off. The economy fluctuates between these phases in a regular cycle. Understanding where the economy is in the cycle can help individuals and businesses plan financially.
The document discusses various concepts related to national income, including:
1. National income is defined as the aggregate factor income arising from a nation's current production of goods and services. It can be measured as the sum of incomes, net outputs by sector, or sum of expenditures.
2. Key concepts include gross national product (GNP), net national product (NNP), national income at market prices, national income at factor cost, and personal income. NNP is GNP less depreciation, while national income deducts indirect taxes and adds subsidies from NNP.
3. In India, national income is estimated using sectoral approaches like the net product method for agriculture and manufacturing, and expenditure methods
Commercial banks engage in a variety of activities including processing payments, lending, and accepting deposits. Their primary functions are accepting deposits from customers and granting loans and advances to individuals and businesses. Deposits come in several forms such as current accounts, savings accounts, fixed deposits, and recurring deposits. Banks also provide secondary services like issuing letters of credit, safe deposit boxes, and money transfers. They offer short-term loans and credit through cash credits, overdrafts, and bill discounting.
This document provides information about World War 1 and its causes, consequences, and effects. It discusses the economic, political, and social impacts of the war, including inflation, the fall of four monarchies, changes in women's roles and civilian life. Key treaties ending the war are mentioned, along with consequences like the emergence of new states in Europe and the decline of European power. Several classroom activities are proposed focusing on food rationing during WW1, women's roles in the war effort through posters, and having students write letters from the trenches to discuss soldiers' experiences.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
2. INTRODUCTION
• Transactions in the nature of sale of goods
form the subject matter of the Sale of
Goods Act, 1930
• The Act came into force on 1 July, 1930
• It extends to the whole of India, except
Jammu & Kashmir
• This chapter deals with the specific types
of contract, i.e., sale of goods
3. DEFINITION OF A CONTRACT OF
SALE
• Section 4 defines a contract of sale as “a contract
whereby a seller transfers or agrees to transfer the
property in goods to the buyer for a price”
4. ESSENTIALS OF A CONTRACT OF
SALE
• From the definition, the following essentials of the
contract emerge:
1)There must be at least two parties: a sale has to be
bilateral because the property in goods has to pass from
one person to another.The seller and the buyer must be
different persons
5. ESSENTIALS…….contd
• 2)Transfer or agreement to transfer the ownership of
goods: In a contract of sale, it is the ownership that is
transferred (in the case of sale), or agreed to be
transferred (in the case of agreement to sell), as against
transfer of mere possession
6. ESSENTIALS…….contd
• 3)The subject matter of the contract must necessarily
be goods: the sale of immovable property is not covered
under Sale of Goods Act.
• 4) Price is the consideration of the contract of sale: the
consideration in a contract of sale has necessarily to be
‘money’, (i.e. the legal tender money).
7. ESSENTIALS…….contd
• If for instance, goods are offered as the consideration for
goods, it will not amount to sale. It will be called a barter.
Where goods are sold for a definite sum and the price is
paid partly in terms of valued up of goods and partly in
cash, that is sale.These are known as part-exchange
contracts.To sum-up: the Act applies only when the buyer
pays by cash (or by cheque, credit card, etc)
8. ESSENTIALS…….contd
• Payment by instalments: in the case of sale of goods, the
parties may agree that the price will be payable by
instalments
• 5) All other essentials of a valid contract as per the
Indian Contract Act, 1872 must be present: the parties
to the contract must be competent ot contract, the
consent of the parties must be free, the object of the
contract must be lawful and so on.
9. SALE AND AGREEMENTTO SELL
• Sale
• Where under a contract of sale, the property (ownership)
in the goods is transferred from the seller to the buyer, it
is called a sale.
• Thus, sale takes place when there is a transfer of
ownership in goods from the seller to the buyer.
• A sale is an executed contract
10. SALE AND AGREEMENTTO SELL
• Agreement to sell
• Agreement to sell means a contract of sale under which
the transfer of property in goods is to take place at a
future date or subject to some conditions thereafter to be
fulfilled
11. Difference Between
Sale
• A sale is an executed contract
• Since the ownership has passed to the
buyer, the seller can sue the buyer for the
price of the goods, if the latter makes a
default in payment
• In case of loss of goods, the loss will fall on
the buyer, even though the goods are in
the possession of the seller. It is because
the risk is associated with ownership
• In case the buyer pays the price and the
seller thereafter becomes insolvent, the
buyer can claim the goods from the
official receiver or assignee as the case
may be
Agreement to Sell
• It is an executory contract
• In case of breach, the seller can
only sue for damages, unless the
price was payable at a stated date
• The loss in this case shall be borne
by the seller, even though the
goods are in the possession of the
buyer
• In this case, the buyer cannot claim
the goods, but only a rateable
dividend for the money paid
12. Distinction between sale and some other transactions
• Sale and Hire purchase
• Sale of goods and ‘work and labour’
• Sale and contract for ‘labour and materials’
• Sale and barter
• Sale and bailment
• Sale and lease
• Sale and gift
• Sale and mortgage, pledge and hypothecation of goods
13. Goods & their classification
• ‘Goods’ means every kind of movable property, other
than actionable claims and money; and includes stocks
and shares, growing crops, grass and things attached to
or forming part of the land which are agreed to be
severed before sale or under the contract of sale
• Trademarks, patents, copyright, goodwill, water, gas,
electricity are all goods
• In general, it is only the movables that form goods
14. Goods & their classification
• The term goods excludes money
• Money means legal tender and not the rare coins which
can be sold and purchased as goods
• Money itself cannot be subject of a sale
• The actionable claims are things which a person cannot
make use of, but which can be claimed by him by means
of a legal action
15. Goods & their classification
• Actionable Claim example
• A borrows Rs. 5000/- from B at 12% per annum interest
on 1st April, 2006 and promises to pay back the amount
with interest on 1st July, 2006. Till 1st July, 2006, the debt
is an accruing debt and is an actionable claim.
16. Documents of title to goods
• Any written instrument, such as a bill of lading, a warehouse
receipt, or an order for the delivery of goods, that in the usual
course of business or financing is considered sufficient proof
that the person who possesses it is entitled to receive, hold, and
dispose of the instrument and the goods that it covers.
• A document of title is usually either issued or addressed by a
bailee—an individual who has custody of the goods of
another—to a bailor—the person who has entrusted the
goods to him or her. Its terms must describe the goods
covered by it so that they are identifiable as well as set forth
the conditions of the contractual agreement. Possession of a
document of title is symbolic of ownership of the goods that
are described within it.
17. Documents of title to goods
• Documents of title are an integral part of the
business world since they facilitate commercial
transactions by serving as security for loans sought
by their possessors and by promoting the free flow
of goods without unduly burdening the channels of
commerce.
• A person who possesses a document of title can
legally transfer ownership of the goods covered by it
by delivering or endorsing it over to another without
physically moving the goods. In such a situation, a
document of title is a negotiable instrument because
it transfers legal rights of ownership from one person
to another merely by its delivery or endorsement.
18. Classification of goods
• Goods may be classified as:
1. Existing
2. Future
3. Contingent
Existing goods are those which are owned or possessed by the
seller at the time of the contract
Instances of goods possessed but not owned by the seller are
sales by agents and pledgees
19. Classification of goods
• Existing goods may be either:
a) Specific or ascertained
b) Generic and unascertained
Specific goods means goods identified and agreed upon at the
time a contract of sale is made
Ascertained goods, though normally used as synonym for
specific goods may be intended to include goods which have
become ascertained subsequently to the formation of the
contract
20. Classification of goods
• Generic or unascertained goods are goods indicated by
description and not specifically identified
• Example: Anthony, who owns aTV showroom, has 20TV sets
and agrees to sell any one of them to Bharti.The contract is
for unascertained goods, since which particularTV set shall
become the subject matter of sale is not individualised at the
time of the contract of sale.
21. Classification of goods
• Future goods means goods to be manufactured or
produced or acquired by the seller after making the
contract of sale
Example: Kulkarni agrees to sell future crop of a particular
agricultural field in the next season.This is an agreement
to sell future goods
22. Classification of goods
• Contingent goods are the goods the acquisition of which
by the seller depends upon a contingency which may or
may not happen. Contingent goods is a part of future
goods
Example: Alka agrees to sell toVivek a certain painting only
if Chetan, its present owner sells it to her.This painting is
classified as contingent goods
23. Effect of perishing of goods
• Section 7 and 8 deal with the effect of perishing of goods on the
rights and obligations of the parties to a contract of sale.
• Under these sections the word perishing means not only physical
destruction of the goods but it also covers:
• Damage to goods so that the goods have ceased to exist in the commercial
sense, ie, their merchantable character as such has been lost, eg, where
cement is spoiled by water and becomes almost stone or where sugar
becomes sharbat and thus are unsaleable as cement or sugar
• Loss of goods by theft
• Where the goods have been lawfully requisitioned by the government
24. Effect of perishing of goods
• It may also be mentioned that it is only the perishing of
specific and ascertained goods that affects a contract of sale
• Where unascertained goods form the subject matter of a
contract of sale, their perishing does not affect the contract
and the seller is bound to supply the goods from wherever he
likes, otherwise be liable for breach of contract
• Example:
Where A agrees to sell to B ten bales of Egyptian cotton out of 100
bales lying in his godown and the bales in the godown are completely
destroyed by fire, the contract does not become void. A must supply
10 bales of cotton after purchasing them from the market or pay
damages for the breach
25. Effect of perishing of goods
1.Perishing of specific goods at or before making of the
contract (Sec 7)
(i) In case of the perishing of the ‘whole’ of goods: Where specific goods form
the subject-matter of a contract of sale (both actual sale and agreement to
sell), and they , without the knowledge of the seller , perish at or before the
time of the contract , the agreement is void .This provision is based either on
the ground of mutual mistake as to a matter of fact essential to the
agreement , or on the ground of impossibility of performance, both of which
render an agreement void.
ILLUSTRATION. (a) A sold to B a specific cargo of goods supposed to be on its
way from England to Bombay. It turned out, however , that before the day
of the bargain, the ship conveying the cargo had been cast away and the
goods were lost. Neither party was aware of the fact.The agreement was
held to be void.
(b) A agrees to sell to B a certain horse . It turns out that the horse was dead at
the time of bargain, though neither party was aware of the fact.The
agreement is void.
26. Effect of perishing of goods
2. In case of perishing of only ‘a part’ of the goods:
where in a contract for the sale of specific goods,
only part of the goods are destroyed or damaged,
the effect of perishing will depend upon whether the
contract is entire or divisible.
• If it is entire (i.e. indivisible) and part only of the
goods has perished, the contract is void. If the
contract is divisible, it will not be void and the part
available in good condition must be accepted by the
buyer.
27. Effect of perishing of goods
• Example:
There was a contract for the sale of a parcel containing700
bags of Chinese groundnuts of different qualities. Unknown
to the seller 109 bags had been stolen at the time of the
contract.The seller delivered the remaining 591 bags and, on
the buyer’s refusal to take them, brought an action for the
price. It was held that the contract being indivisible had
become void by reason of the loss of the goods and the buyer
was not bound to take delivery of 591 bags or pay for the
goods.
Note: Had there been all bags of the same weight and quality
for certain price per bag, the contract would have been
divisible and the buyer could only have avoided the contract
as to those goods which had actually perished
28. Effect of perishing of goods
3. Perishing of specific goods before sale but after agreement to
sell (sec.8).
• Where there is an agreement to sell specific goods, and
subsequently the goods , without any fault on the part of the
seller or buyer, perish before the risk passes to the buyer, the
agreement is thereby avoided, i.e., the contract of sale
becomes void, and both parties are excused from
performance of the contract.
• This provision is based on the ground of supervening
impossibility of performance which makes a contract void
29. Effect of perishing of goods
• If only part the goods agreed to be sold perish, contract
becomes void if it is indivisible. But if it is divisible then the
parties are absolved from their obligations only to the extent
of the perishing of the goods (i.e., the contract remains valid as
regards the part available in goods condition ).
It must further be noted that if fault of either party causes the
destruction of the goods, then the party in default is liable for
non-delivery or the pay for the goods, as the case may be
(sec.26).Again, if the risk has passed to the buyer, he must pay
for the goods, though undelivered [ unless otherwise
agreed… risk prima facie passes with the property (sec. 26)].
30. Effect of perishing of goods
Examples:
(a) A buyer took a horse on a trial for 8 days on condition that if found
suitable for his purpose the bargain would become absolute.The
horse died on the 3rd day without any fault of either party. Held,
contract, which was in the from of an agreement to sell, becomes
void and the seller should bear the loss ( Elphick vs Barnes).
(b) A, had contracted to erect machinery on M’s premises, the price
to be paid on completion. During the course of the work, there was
a fire which completely destroyed premises and the machinery. It
was held that both parties were excused from further performance
and A was not entitled to any payment as the price was payable on
the completion of entire work (Appleby vs myers.19).
31. Effect of perishing of goods
• Effect of perishing of future goods. As observed earlier, a present sale of
future goods always operates as an agreement to sell [sec. 6(3)]. As such
there arises a question as to whether section 8 applies to a contract of sale
of future goods. (amounting to an agreement to sell) as well?The answer
is found in the leading case of Howell vs Coupland 20, where it has been
held that future goods, the destruction of which makes the contract void .
The facts of the case are as follows:
Example:C agreed to sell to H 200 tons of potatoes to be grown on C’s land.
C sowed sufficient land to grow the required quantity of potatoes, but
without any fault on his part, a disease attacked the crop and he could
deliver only about ten tons.The contract was held to have become void.
32. Conditions &Warranties (Sec. 11-17)
• In a contract of sale, parties make certain stipulations, i.e., agree to
certain terms regarding the quality of the goods, the price and the
mode of its payment, the delivery of goods and its time and place
• All stipulations cannot be treated on the same footing
• Some may be intended by the parties to be of a fundamental
nature, eg. Quality of the goods to be supplied, the breach of which
therefore will be regarded as a breach of the contract
• Some may be intended by the parties to be binding, but of a
subsidiary or inferior character, eg., time of payment, so that a
breach of these terms will not put an end to the contract but will
make the party committing the breach liable to damages
• The former stipulations are called ‘conditions’ and the latter
‘warranties’
33. Stipulations as to time
• Stipulations as to time in a contract of sale fall under
the following two heads:
1. Stipulation relating to time of delivery of goods
2. Stipulation relating to time of payment of the
price
As regards the time fixed for the delivery of goods,
time is usually held to be the essence of the
contract’.Thus if time is fixed for delivery of the
goods and the seller makes a delay, the contract is
voidable at the option of the buyer. In case of late
delivery, therefore, the buyer may refuse to accept
the delivery and may put an end to the contract.
34. Stipulations as to time
• As regards the time fixed for the payment of the
price, the general rule is that ‘time is not deemed to
be the essence of the contract’, unless a different
intention appears from the terms of the contract
(sec. 11).Thus even if the price is not paid as agreed,
the seller cannot avoid the contract on that account.
He has to deliver the goods if the buyer tenders the
price within reasonable time before resale of the
goods.The seller may, however, claim compensation
for the loss occasioned to him by the buyer’s failure
to pay on the appointed day.
35. Conditions &Warranties (Sec. 11-17)
• Sec. 12(2) defines a ‘condition’ as, ‘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’ (denied),
• Sec 12(3) defines a ‘warranty’ as, ‘stipulation
collateral to the main purpose of the contract,
the breach of which gives rise to claim for
damages but not to a right to reject the goods
and treat the contract as repudiated’ .
36. Conditions &Warranties (Sec. 11-17)
• The effect of a breach of a ‘condition’ is to give the
aggrieved party a right to treat the contract
repudiated, i.e., if price has been paid, the buyer can
claim the refund of price plus damages for breach
• In case of breach of ‘warranty’, only damages can be
claimed, i.e., the buyer must accept the goods and
claim damages for the breach of warranty
• Whether a stipulation in a contract of sale is a
‘condition’ or a ‘warranty’ depends in each case on
the construction of the contract
• A stipulation may be a condition though called a
warranty in a contract [sec. 12(4)]
37. Conditions &Warranties (Sec. 11-17)
Example: 1
Kaushal asks a dealer to supply him a shirt which
would not shrink after use and wash.The dealer
supplies a shirt which shrinks after use and wash.
Kaushal can reject the shirt or keep the shirt and
claim damages. Here the stipulation to supply a shirt
which would not shrink after use and wash is a
condition.
Now if Kaushal buys a particular shirt which is
warranted by the dealer to be one which would not
shrink after use and wash and the shirt does shrink
after use and wash, Kaushal’s only remedy is to claim
damages
38. Conditions &Warranties (Sec. 11-17)
• Example: 2
A man buys a particular horse which is warranted quiet
to ride and drive. If the horse turns out to be vicious, the
buyer’s only remedy is to claim damages. But if instead
of buying a particular horse, a man asks a dealer to
supply him with a quiet horse and the dealer supplies him
with a vicious one, the stipulation is a condition, and the
buyer can return the horse and can also claim damages
for breach of contract (Hartley vs Hyman)
• The illustrations are a clear proof of the fact that an
exactly similar term may be a condition in one contract
and a warranty in another depending upon the
construction of the contract as a whole
39. Condition &Warranty Distinguished
1. As to value:
A condition is a stipulation which is essential to the main
purpose of the contract, whereas a warranty is a stipulation
which is collateral to the main purpose of the contract.
2. As to breach:
The breach of a condition gives the aggrieved party the
right to repudiate the contract and also to claim damages.
3. As to treatment:
A breach of condition may be treated as a breach of
warranty. But a breach of warranty cannot be treated as a
breach of condition.
40. When breach of Condition is to be treated as
breach ofWarranty
• Section 13 deals with cases where a breach of condition is to
be treated as a breach of warranty, as a consequence of
which the buyer loses his right to rescind the contract and
has to be content with a claim for damages only.
• These cases are as follows:
1. Voluntary waiver by buyer:
• Although on a breach of condition by the seller, the buyer has a right
to treat the contract as repudiated and reject the goods, but he is
not bound to do so
• He may instead elect to waive the condition, i.e., to treat the breach
of condition as a breach of warranty and accept the goods and sue
the seller for damages for breach of warranty
41. When breach of Condition is to be treated as breach of
Warranty
• Illustration:
A agrees to supply B 10 bags of first quality sugar @ Rs. 1625
per bag but supplies only second quality sugar, the price of
which is Rs. 1500 per bag.There is a breach of condition and
the buyer can reject the goods. But if the buyer so elects, he
may treat it as a breach of warranty, accept the second
quality sugar and claim damages @ Rs. 125 per bag.
42. Express & Implied Conditions &Warranties
Express condition or warranty:
These may be of any kind that the parties may choose to
agree upon, eg, it may be agreed that delivery of goods
shall be made or taken on or before a certain date.
Similarly, in a contract of sale of a car, express warranty as
to its soundness may be incorporated
Implied conditions and warranties:
They are deemed to be incorporated by law in every contract of sale of
goods unless the terms of the contract show a contrary intention
43. Implied conditions
i.Condition as to title (sec. 14)
ii.Sale by description (sec. 15)
iii.Condition as to quality or fitness for buyer’s
purpose [sec. 16(1)]
iv.Condition as to merchantable quality [sec. 16(2)]
v.Condition as to wholesomeness
vi.Implied condition in the case of sale by sample (sec.
17)
vii.Implied condition in the case of sale by sample as
well as description (sec. 15)
44. Transfer of ownership
• A contract of sale is performed in two inter-related stages
• 1-Transfer of possession of goods
• 2-Transfer of ownership of goods
Followings reason-
A-Risk of Losses-
B-Only owner can sue-if third party destroyed or damaged
C-Insolvency of buyer & Seller-when seller or buyer become
insolvent then liquidator can take over property
D-Suit for price-only seller can sue.
45. Time when property passes
1-in case of unascertained goods
2-in case of ascertain goods
3-Inn case of goods sent on approval basis
46. Sale by non co –owners Exceptions
1-sale by a mercantile agent
2-sale under the implied authority
3-sale by one of the several joint owner
4-sale by seller in possession after sale
5-sale by buyer in possession after sale