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Week 7 Sales of Goods

This document provides an outline and overview of Sales of Goods Law under Pakistani corporate law. It discusses the essential elements of a contract of sale including the requirement for a contract, two parties, transfer of property, goods, and price. It also defines what constitutes "goods" and the different kinds of goods. Further, it examines the concepts of conditions and warranties in a contract of sale, the difference between them, and examples of implied conditions and warranties. The document uses examples and case law to illustrate these legal concepts.

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IftikharUlHassan
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108 views11 pages

Week 7 Sales of Goods

This document provides an outline and overview of Sales of Goods Law under Pakistani corporate law. It discusses the essential elements of a contract of sale including the requirement for a contract, two parties, transfer of property, goods, and price. It also defines what constitutes "goods" and the different kinds of goods. Further, it examines the concepts of conditions and warranties in a contract of sale, the difference between them, and examples of implied conditions and warranties. The document uses examples and case law to illustrate these legal concepts.

Uploaded by

IftikharUlHassan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 11

CORPORATE LAW

Week 7
Sales of Goods Law
By
Muhammad Naveed Chohan

Friday, June 28, 2019 1


Outline

 Contract of Sales of Goods


 Conditions and Warranties

Friday, June 28, 2019 2


Contract of Sales of Goods
What is Contract of Sale?
‘‘A contract whereby the seller transfers or agrees to transfers the property
in goods to the buyer for price’’
[Sec. 4 (1) of Sales of Goods Act 1930]

Essentials of a Contract of Sale :


 Contract
 Two Parties
 Transfer of Property
 Goods
 Price
 Sale and Agreement to Sale
 Other Formalities

Friday, June 28, 2019 3


Contract of Sales of Goods
Goods:
‘‘Goods means every kind of moveable property other than actionable
claims and money; and includes electricity, water, gas, stock and
shares, growing crops, grass and things attached to or forming part of
the land which are agreed to be served before sale or under the
contract of sale’’
[Sec. 2 (7) of Sales of Goods Act 1930]

Kinds of Goods:
 Existing Goods
• Specific Goods
• Unspecified Goods
 Future Goods
 Contingent Goods

Friday, June 28, 2019 4


Contract of Sales of Goods
Price:
‘‘Price means the money consideration for a sale of goods’’
[Sec. 2 (10) of Sales of Goods Act 1930]

Modes of Fixing the Price:


 Parties
 Agreed Manner
 Course of Dealing
 Reasonable Price

Friday, June 28, 2019 5


Conditions and Warranties
What is Condition:
‘‘Condition is a stipulation essential to the main purpose of the contract, the
breach of which gives the aggrieved party a right to repudiate the
contract’’
[Sec. 12 (2) of Sales of Goods Act 1930]

What is Warranty:
‘‘Warranty is a stipulation collateral to main purpose of the contract, the
breach of which gives the aggrieved party a right to sue for damages,
and not to avoid the contract’’
[Sec. 12 (3) of Sales of Goods Act 1930]

Friday, June 28, 2019 6


Conditions and Warranties
Condition Treated as Warranty:
 Option of buyer
 Acceptance of Goods by buyer

Kinds of Conditions and Warranties:


 Express Conditions and Warranties
 Implied Conditions and Warranties

Friday, June 28, 2019 7


Conditions and Warranties

 Implied Conditions
1. Conditions as to Title
2. Sale by Description
3. Sale by Sample
4. Sale by Sample as well as by Description
5. Condition as to Fitness or Quality
6. Condition as to Merchantability
7. Condition by Custom
8. Condition as to Wholesomeness (Beneficial for Health)

Friday, June 28, 2019 8


Conditions and Warranties

 Implied Warranties
1. Quiet Possession (Mason Vs. Burningham)
2. Freedom from Encumbrances
3. Usage of trade
4. Discloser of Dangerous Goods (Clark Vs. Army & Navy Coop. Ltd)

Doctrine of Caveat Emptor:


‘‘It is for the buyer to satisfy himself that the goods which he is purchasing
are of the quality which he requires or, if he is buying them for a
specific purpose that the goods are fit for that purpose’’

Friday, June 28, 2019 9


Exercise
Almudana has just graduated from university and is going out in
town to celebrate. She visits her local high street cosmetic shop
and selects an expensive make-up set which includes her
favourite foundation which is on special offer. She selects the item
and places the product in the basket. As she approaches the
checkout she takes the make-up set out of the basket and
accidentally drops it on the floor damaging the contents. The
supervisor on duty demands payment

How will you defend her as a specialist in corporate law?

Friday, June 28, 2019 10


End of Week # 8-9 Lecture Presentation
Thanks for Patience

Friday, June 28, 2019 11

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