Copy of Sale of Goods

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Copy of Sale of Goods by Mind Map: Copy of Sale of Goods

1. goods must be reasonably fit for purposes for which the buyer wants them section 16(1)(b).

2. Definition : Section 4(1) contract of sale of goods is a contract whereby the seller transfers or has the same opinion to switch the property in goods to the customer for a price.

3. Contract of sale of Goods

3.1. -Objectives : for money consideration.

3.2. -Section 4(3) : sale happen when the property in items is transferred from the vendor to the buyer.

4. Classification of Goods

4.1. Existing Goods

4.2. Future Goods

4.3. Specific Goods

4.4. Unascertained Goods

4.5. Ascertained Goods

5. Excluded From Being Goods

5.1. Land: (house and building on the land.

5.2. Actionable claims: (right to sure another person for a debt)

5.3. Money: (any currency)

5.4. Services such as repair or labour

6. Fixing The Price

6.1. It will stated in the contract

6.2. It may be left to be fixed in a manner

6.3. It may be determined by reference to the course of dealings between the parties.

6.4. If none of these apply, a buyer must pay a 'reasonable price' for the goods he receives.

7. Condition and Warranties

7.1. Section 12(2) - Essential : very important term in constituting major part of contract. The option for the innocent money is to repudiate and cancel the contract.

7.2. Section 12(3) - less important term in a contract. When there is breach, the innocent party may ask for monetary compensation for the loss incurred, but the contract is still on going and innocent party cannot repudiate.

8. Exception to the Principle 'NEMO DAT' rule

8.1. Estoppel

8.2. Sale by a seller in possession after sale

8.3. Sale by a buyer in possession

8.4. Sale by one of joint owners

9. Formation

9.1. Section 5(1) - The contract might also supply for the immediately delivery of the goods or instant charge of the price or both, for the transport or price by using installments, or that the delivery or fee or both shall be postponed.

9.2. Section 5(2) - Subject to any regulation for the time being in force, a contract of sale may also be made writing or by using phrase of mouth, or partly in writing and partly by using phrase of mouth or may additionally be implied from the behavior of the parties.