Rights of Unpaid Seller | Sale of Goods Act, 1930
The seller to whom the full price of the goods sold has not been paid the price is known as an unpaid seller.
Business Law
The seller to whom the full price of the goods sold has not been paid the price is known as an unpaid seller.
Performance of a Contract It is the duty of the seller to deliver the goods and of the buyer to accept and pay for them, in accordance with the terms…
Transfer of property means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and one or more other living persons.
The doctrine of ‘Caveat Emptor’ means "let the buyer beware". In other words, the buyer must take care of his own interest while purchasing the goods. While purchasing the goods the buyer should check the goods carefully.
The Sale of Goods Act, identifies the terms, "Conditions and Warranties" as being of a prime significance in a contract of sale.
The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or future goods.
Sec. 4 (1), The Sale of Goods Act, 1930" A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another.
Broadly, types of contract are divided into 3 types: On the Basis of the 1. Mode of Formation 2. Performance 3. validity or Enforceability
The Indian Contract Act mostly deals with the general principles and rules governing contracts. The Act is divisible into two parts. The first part (Section 1- 75) deals with the general principles of the law of contract and second part (Sections 124-238) deals with certain special kinds of contracts
Business Law is also known as Commercial law or corporate law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.