Sale of goods act and related provisions for entrepreneurs

SALE OF GOODS ACT AND RELATED PROVISIONS FOR ENTREPRENEURS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is sale ? Read sec. (4) : when seller transfers or agrees to transfer the property in goods, to the buyer, for money / consideration / price.

What are the essentials of a sale ? Bilateral contract: there must be 2 parties Transfer of property: The object of a contract of sale must be the transfer of property (meaning ownership) in goods from one person to another. Goods: The subject matter must be some goods. Price / money / consideration: The goods must be sold for some price, where the goods are exchanged for goods it is barter, not sale. All essential elements of a valid contract must be present in a contract of sale.

What is the difference between sale and agreement to sell ? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is goods ? Section 2(7) of the Sale of Goods Act: - “goods” means every kind of movable property other than actionable claims and money and includes stock 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.

In the case of sale or return, when will the sale complete ? ,[object Object],[object Object],[object Object]

What are the rights of an unpaid seller ? ,[object Object],[object Object],[object Object],[object Object]

When can an unpaid seller re-sell the goods ? (sec. 54) ,[object Object],[object Object],[object Object]

What is auction sale ? ,[object Object]

When does an auction sale complete ? ,[object Object]

Can seller also bid in auction ? ,[object Object]

When does property transfers to buyer in F.O.B. Sale ? ,[object Object]

What is sale ex-ship ? ,[object Object]

What is sale in CIF ? ,[object Object]

When can an unpaid seller stop the goods in transit ? ,[object Object],[object Object],[object Object]

Can sale of unfinished goods be done ? ,[object Object],[object Object]

What is Merchantable quality ? ,[object Object],[object Object]

Who bears the risk in goods? ,[object Object],[object Object]

What are the rights of third party – when buyer sells them goods ? ,[object Object]

What are the rights of third party – when seller again sells the goods to them ? ,[object Object]

What happens if the buyer / seller turns insolvent and he has not made payment of goods ? ,[object Object]

When does property pass to buyer in specific goods ? ,[object Object]

When does property passes to buyer in specific but semi-finished goods ? ,[object Object]

A buys goods from B, and makes payment but goods are yet to be identified. When does the property pass to A ? ,[object Object]

if the seller reserves the right of disposal of the goods, can this be called proper sale and when does property in goods transfer to buyer ? ,[object Object],[object Object]

A a seller makes delivery of the goods to a carrier for the purpose of transmission to the buyer as per contract. When does property transfers to buyer? ,[object Object],[object Object]

Can there be a situation when risk and property passes to buyer at different stages ? ,[object Object]

Can there be a sale, where the seller transfers the risk before the buyer makes the payment? ,[object Object]

A, the hirer of goods under a hire purchase agreement, sells them to B, can B,a bona fide purchaser get good title to goods ? ,[object Object],[object Object]

A finds a ring of B and sells it to D, a third person who purchases it for value and in good faith. Can B recover the ring from D ,[object Object],[object Object]

A buys goods from B, who is co-owner of property. A thinks that B has the authority to sell. Will A get the property? ,[object Object],[object Object]

A buys a sofa from a furniture showroom. The same sofa was sold earlier also by the seller (although the delivery was not made). Will A get title ? ,[object Object],[object Object]

Anil, a buyer buys in good faith from a person in possession of goods under a contract which is voidable, but has not been rescinded at the time of the sale. Can Anil get proporty ? ,[object Object]

Ravi buys one tonne of rice from a mercantile agent, but the owner says that he wants to get it back. Will Ravi get it ? ,[object Object],[object Object]

Ajay buys Ram's laptop from Hari. Ram was standing there. Now Ram wants to recover his laptop from Ajay, will he succeed ? ,[object Object],[object Object]

Ram an unpaid seller, collects his goods back from transporter and sells these goods to Ravi. Will Ravi get good title ? ,[object Object],[object Object]

What are the duties of buyer and seller in a contract of sale ? ,[object Object]

What are the various types of deliveries in sale of goods act ? ,[object Object]

Can you give example of symbolic delivery ? ,[object Object]

What is constructive delivery ? ,[object Object]

Who will bear the cost of delivery ? ,[object Object],[object Object]

Can a seller deliver goods in instalments (there is no agreement on this matter) ? ,[object Object],[object Object]

Ravi a seller (in Shimla) sells Tomatoes to Raj. Raj asks Ravi to deliver goods from Shimla to Bikaner. Who will bear transit loss (there is no agreement)? ,[object Object],[object Object]

What are implied conditions ? ,[object Object],[object Object],[object Object],[object Object]

What are implied warranties ? ,[object Object],[object Object]

What is caveat emptor ? ,[object Object]

Who is a merchantile agent ? ,[object Object]

What are the various types of mercantile agents ? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Who is a factor ? ,[object Object],[object Object]

Who is a Del Credere agent ? ,[object Object],[object Object],[object Object]

Who is commission agent ? ,[object Object]

What is the difference between void and voidable contracts? ,[object Object],[object Object]

Give examples of void contracts ? ,[object Object],[object Object],[object Object],[object Object],[object Object]

A makes a contract with B to sell some commodity after 6 months. He doesnt want to have any physical delivery of goods. He just want to take benefit of price difference . Is it a contract? ,[object Object],[object Object],[object Object]

What are the cases, when consideration is not valid ? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What are the damages / remedies in case of breach of contract? ,[object Object],[object Object],[object Object],[object Object]

WHAT IS CONSIDERATION? ,[object Object],[object Object]

WHO IS COMPETENT TO CONTRACT? ,[object Object],[object Object],[object Object],[object Object]

Is free consent necessary for a contract ? ,[object Object],[object Object]

Is consideration necessary for a contract? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Case : Carlill v. Carbolic Smoke Ball Co: . The company offered by advertisement, a reward of $100 to anyone who contacted influenza after using their smoke ball in the specified manner. Mrs. Carlill did use smoke ball in the specified manner, but was attacked by influenza. Can she claim reward ? ,[object Object]

a person attended an advertised place of auction but the auction was cancelled, can that person sue for damages ? ,[object Object]

Ravi went to a retail store. There was a display of priced goods in a self- service counter. He saw price of Rs. 100 for a plate. He wanted to buy it, but he was refused. Can he file a suit under contract act? ,[object Object],[object Object],[object Object]

Raja offers to sell his car for Rs. 30000, but Ravi, the offeree makes a counter offer of Rs. 20000. But later Ravi wants to buy @ 30000. But now Raja refuses. Can Ravi get it ? ,[object Object],[object Object]

Can an illiterate person be forced to follow rules of journey which are printed on the back of a ticket? ,[object Object]

What is the the doctrine of privity of contract ,[object Object]

What is Executory consideration ,[object Object]

Can a minor be an agent ? ,[object Object]

Can a minor be a principal ? ,[object Object]

Can a minor be adjudged an insolvent ? ,[object Object],[object Object]

When wife purchases from market, is she agent of her husband? ,[object Object]

Can a wife, who is deserted by her husband, still work as an agent for her husband? ,[object Object]

Download links for basic preparation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Download links... ,[object Object],[object Object],[object Object],[object Object],[object Object]

Enumerate the different modes of discharge of a contract. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Liquidated and unliquidated damages; -- - differentiate these ,[object Object],[object Object]

A sells by auction, to B a horse which A knows to be unsound. A says nothing to B about the horses unsoundness. Is A guilty of fraud. ,[object Object]

A and B are traders and enter into some contract. A has private information of a change in price which would effect B’s willingness to proceed with the contract. Is A bound to inform B. ,[object Object]

A intending to deceive B falsely represents that five hundred paunds of indigo are made annually at A’s factory and thereby induces B to buy the factory. What is the remedy available to B. ,[object Object],[object Object]

WHAT IS THE Doctrine of Caveat Emptor ,[object Object]

X by way of undue influence buys a car from Y at a very low price and sells it to Z, an innocent purchaser. ,[object Object]

Why it is important to know the time of passing of property? ,[object Object],[object Object]

What are implied conditions and warranties? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

In a contact through sea, where the seller has to put the goods on board ship at his own expenses, the contract is known as : ,[object Object],[object Object],[object Object],[object Object],[object Object]

What is Stale cheque. ,[object Object],[object Object]

What is banker's cheque? ,[object Object],[object Object]

What is hundi? ,[object Object]

What is an Accommodation Bill ,[object Object]

Who is a Holder-in-due course ,[object Object]

THANKS.... ,[object Object],[object Object],[object Object]

Sale of goods act and related provisions for entrepreneurs

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Sale of goods act and related provisions for entrepreneurs