law 3 Flashcards
AGREEMENT TO SELL
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types of goods
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Describe the rules as to the passing of property from the seller to
the buyer in a contract of the sale of goods.
ownership
rick follows ownership
action of third party
insolvency of the buyer or seller
DUTIES OF BUYER
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RIGHTS OF THE BUYER
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rules to delivery of goods
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unpaid seller
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rights of unpaid seller
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Delivery of goods may be actual, symbolic or constructive.
- Actual delivery, where the goods are handed over by the seller to the buyer or his duly
authorized agent. - Symbolic delivery, where goods are ponderous or bulky and incapable of actual
delivery ex. handing over the key of the house to the buyer - Constructive delivery or delivery by attornment, where a third person who is in
possession of the goods of the seller at the time of sale acknowledges to the buyer that
he holds the goods on his behalf
CAVEAT EMPTOR
a contract
of sale of goods, the seller is under no duty to reveal unflattering truths about the goods
sold. Therefore, when a person buys some goods, he must examine themthoroughly.
SALE AND AGREEMENT TO SELL – DISTINCTION
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CONDITIONS
the stipulation essential to teh main purpose of the contract the breach of which leads to repudiation of the contract.
WARRANTIES
stipulation of which is collateral to the main pupose of the contract the breach of which leads to only claim of damages and not reject the goods and treat the contract as repudiated.
EXPRESS AND IMPLIED CONDITIONS AND WARRANTIES
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