01. Sale of Goods Act.docx

The seller is not bound to part with the goods ii

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The seller is not bound to part with the goods. II CONDITIONS AND WARRANTIES: Definitions: REPRESENTATIONS When forming a contract, a party may make a statement with a view to induce the other party to enter in to a contract. Such statements when made before entering in to a contract are called as representations PUFF A representation by way of mere expression of an opinion or commendation by the seller is known as Puff. STIPULATION A representation which is an integral part of a contract is called stipulation. CONDITION A stipulation which is essential to main purpose of the contract is called condition WARRANTY A stipulation , which is collateral to the main contract is called Warranty DIFFERENCES BETWEEN THE CONDITIONS AND WARRANTIES CONDITIONS WARRANTIES It is stipulation, which is essential to the main purpose of a contract. It is a stipulation, which is collateral to the main purpose a contract. Breach of condition entitles the injured party to (1) Repudiate the contract (2) Reuse the goods and (3) Recover the price ( if already paid. A Breach of warranty, entitles a person to recover the damages only. It does not give right to repudiate the contract and reject the goods. III IMPLIED CONDITIONS AND WARRANTIES . In a contract of sale, conditions and warranties may be express or implied. EXPRESS CONDITIONS AND WARRANTIES are those, which are mentioned in the contract in clear terms. IMPLIED CONDITIONS AND WARRANTIES are those, which are deemed to have been included in a contract by the presumption of law, unless the parties agreed to the contrary.
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(A) IMPLIED CONDITIONS Sl.No IMPLIED CONDITIONS EXPLANATION 01 Conditions as to TITLE Normally, it is presumed that, the seller has a right to sell the goods, unless otherwise expressed in the contract. 02 Conditions as to QULITY or FITNESS When a buyer informs the seller, the purpose for which he intends to purchase the goods, the seller should sell such goods, which would reasonably serve the purpose of the purchaser. This condition does not apply in case of patented goods. 03 Conditions as to MERCHANTABILITY Merchantability denotes the standard quality, condition, salability of a specific commodity. The seller shall ensure that the goods are free from latent defects. The state of goods sold should be in such a position that, they are fit for resale under the description by which they are known.
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