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Team members:
Sourabh Sheth M1250
Sunil Gaikwad M1252
Tushar Kharate M1254
Vikesh Bangera M1256
Vipula Gangurde M1258
Vish...
 Transfer of ownership
 Rights of unpaid seller
 Contract involving rail or sea transit
 Def : transfer of property in goods is distinct
from delivery of goods. Property or ownership
may pass to the buyer with...
 The time when property passes:
1)in the case of specific or ascertained
2)in the generic or unascertained or future
good...
 Unpaid seller (Def) : Unpaid seller is one who has not
received the whole of the price or has received the
payment by bi...
 Right of lien
 Rights of stoppage in transit
 Right of re-sale
 Right of withholding delivery
 Other rights:
1) Seller may sue the buyer for the price of the
goods
...
Number of conditions are
attached by the parties or by
custom and practice of
merchants
Free on Board
Free on Rail
Cost...
• Includes:
o Price of goods
o Port fees
• No requirement of tender of documents
• Delivery is complete on shipment at the...
• Includes:
• Cost of shipment
• Insurance cost
• Fright cost
• Tender of documents are required
• Buyer gets the possessi...
 Seller to arrange upto port of destination
 Inland destination also
 Buyer is not bound to pay until the goods are
rea...
Legal aspects (transfer of ownership)
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Legal aspects (transfer of ownership)

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Legal aspects (transfer of ownership)

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Legal aspects (transfer of ownership)

  1. 1. Team members: Sourabh Sheth M1250 Sunil Gaikwad M1252 Tushar Kharate M1254 Vikesh Bangera M1256 Vipula Gangurde M1258 Vishwanathan Iyer M1260 Wasif Parkar M1261
  2. 2.  Transfer of ownership  Rights of unpaid seller  Contract involving rail or sea transit
  3. 3.  Def : transfer of property in goods is distinct from delivery of goods. Property or ownership may pass to the buyer without delivery of the goods; while delivery of goods may not constitute transfer of ownership in the goods.
  4. 4.  The time when property passes: 1)in the case of specific or ascertained 2)in the generic or unascertained or future goods.  When property in the goods does not pass: 1) If the seller reserves the right of disposal of goods. 2) where he sends the bill of exchange, till the buyer accepts the same.
  5. 5.  Unpaid seller (Def) : Unpaid seller is one who has not received the whole of the price or has received the payment by bill of exchange or negotiable instrument which is dishonored.
  6. 6.  Right of lien  Rights of stoppage in transit
  7. 7.  Right of re-sale  Right of withholding delivery  Other rights: 1) Seller may sue the buyer for the price of the goods 2) The seller may sue the buyer for the damages for the wrongfully neglecting or refusing to accept the goods. 3) Recovery of interest, if there is a specific agreement to that effect
  8. 8. Number of conditions are attached by the parties or by custom and practice of merchants Free on Board Free on Rail Cost Insurance and Freight Ex-Ship
  9. 9. • Includes: o Price of goods o Port fees • No requirement of tender of documents • Delivery is complete on shipment at the specified location • Buyer’s risk • Notification to buyer • Similar rules for Free on rail
  10. 10. • Includes: • Cost of shipment • Insurance cost • Fright cost • Tender of documents are required • Buyer gets the possession of goods at the end of delivery
  11. 11.  Seller to arrange upto port of destination  Inland destination also  Buyer is not bound to pay until the goods are ready for unloading from the ship and all freight charges paid  Goods travel at the seller’s risk, but he is not bound to insure them.

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