CHAPTER 6:SALE OF GOODS

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CHAPTER 6:SALE OF GOODS by Mind Map: CHAPTER 6:SALE OF GOODS

1. TERMS OF THE CONTRACT

1.1. Conditions and warranties:when there is no reasonable opportunity for inspections and when the buyer has to rely on the special knowledge or expert judgement of the seller.

1.1.1. Stipulation as to time:This means that unless th contract specifically states that the time of payment shall be the essences of the contract,if a buyer fails to pay by an agreed date,it does not entitle the seller to repudiate the contract.

1.1.1.1. Express Terms;A term may actually be a condition, although it is referred to as a warranty in the contract by the parties.(conditions,warranty),

1.1.1.1.1. Implied terms:Implied condition as to tittle , Implied warranty that buyer shall have quite possession of the good, Implied warranty that the good are unencumbered, Goods must be reasonably fit for purposes for which the buyer wants them.

2. PRIVITY OF CONTRACT

2.1. Position of provity of contract under the common law:the terms implied in a contract of sale are only between the contracting parties,the buyer and the seller.

2.1.1. The case of Donoghue v stevenson (ms 225)

3. TRANSFER OF PROPERTY AND TITTLE UNDER THE SALE OF GOODS.

3.1. The fundamental rule of Nemo Dat Quod Non Habet:This rule is expressed in the latin maxim nemo dat quod non habet.

3.1.1. The exceptions to the rule od Nemo Dat Quod Non Habet: Estoppel, sale by mercantile agent, sale by one of joint owners, sale under a voidable tittle, sale by a seller in possession after sale and sale by a buyer in possession.

4. PERFORMANCE OF CONTRACT

4.1. Failure of buyer to take delivery:"Delivery means voluntary transfer of possession from one person to another.

4.1.1. Failure of buyer to take goods;when the seller agrees to deliver the goods at his own risk at a place other than that where they are sold , the buyer shall, unless otherwise agreed, take any risk of deterioration in the goods necessarily incident to the course of transit.

4.1.1.1. Failure of buyer to pay for goods:Accepts the goods included in the contract and reject the rest or accept all the goods.

5. REMEDIES FOR BREACH OF CONTRACT.

5.1. Rights of the unpaid seller against the goods:The whole of the price has not been paid or tendered or where a bill of exchange or other negotiable instrument has been received as conditional payment, and the condition on which it was received has not been fulfilled.

5.1.1. Lien:The goods have been sold without any stipulation as to credit,The goods have been sold on credit , but the term of credit has expired or the buyer becomes insolvent.

5.1.1.1. Stoppage in transit;By the taking actual possession of the goods or by giving notice of the sellers claim to the carrier or bailee in whose possession the goods.

5.1.1.1.1. Resale:The goods are of a perishable nature.