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Sale of goods act

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Information about Sale of goods act
Business & Mgmt

Published on November 27, 2011

Author: joshuamirandaee

Source: slideshare.net

Description

Sale of goods act
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Contract of Sale Sale Agreement to sell

SALE Where under a contract of sale the property in goods Is transferred For the seller to the buyer

Where under a contract of sale

the property in goods

Is transferred

For the seller to the buyer

Agreement to sell Where under a contract of sale the transfer of property in goods is to take place at a future time Or subject to some condition thereafter to be fulfilled The contract is called an agreement to sell

Where under a contract of sale

the transfer of property in goods is to take place

at a future time

Or subject to some condition thereafter to be fulfilled

The contract is called an agreement to sell

SALE If Destroyed Buyer To bear Loss The seller To deliver the Goods to receiver or asignee Possession Of goods With seller If seller becomes Insolvent The buyer has right to take the goods Possession of goods with seller SALE If buyer becomes Insolvent Buyer has Right in rem Possession of goods with seller SALE

Agreement to sell 1 If buyer becomes Insolvent seller Not To deliver the Goods to receiver or assignee Possession of goods with seller If seller becomes Insolvent BUYER CAN Not Claim Goods from receiver or assignee If destroyed Seller to Bear the loss Buyer has Right in personem Possession of goods with buyer Agree ment To sell

SALE Consequence The seller May Recover the price by filing suit Buyer Responsible for The loss The buyer Refuses to pay seller refuses to deliver goods Executed contract Ownership Transfredded immediatley SALE The buyer May Recover the goods by filing suit Consequence

AGREEMENT TO SELL Seller Responsible for loss The buyer Refuses to pay seller refuses to deliver goods Executory contract Ownership not Transfredded immediatley Agree ment to sell The seller Cannot Recover the goods by filing Suit.He can recover damages Consequence Consequence The seller Cannot Recover the price by filing Suit.He can recover damages

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