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Friday, 6 May 2016

The sale of goods act, 1930 part 1 simple

*A contract of sale of goods is a contract where by the seller agrees to transfer the property in goods to the buyers for a price.

*In the agreement to sell, the property in goods is transferred to the buyer, when the agreement to sell becomes actual sale.

contract- here buyer is the true owner of the goods

agreement-here the seller is the true owner of the good

contract- loss is born by buyer

agreement-loss is borned by seller

contract- seller cannot resell the goods to a third party

agreement-the seller can sell the goods to a third party however he can be liable to compensate previous buyer

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Condition- it is the essential purpose of contract, in the sale of good  acts 1930. the breach condition give the aggrieved party right to repudiate the contracts and also to claim damages
if A sells his horse to B and gives B a condition that the horse will run 20 kmph. But after a while a horse started running at 8 kmph. So be can return the horse to A .

Warranty-A warranty is only collateral to the main purpose of the contracts
if A sell his horse to B and gives B a warranty that the horse will run 20kmph. But after a while the horse started running at 8 kmph. Now a cannot to anything he only  can claim for it

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