Sale and Purchase of Range Rover


Added on  2022-08-13

9 Pages2118 Words19 Views
Running head: CORPO/BUSS LAW 1
Sale and Purchase of Range Rover_1

In the event of a sale, there is a need for both parties involved in the transaction to understand the
significance of a purchase and sale agreement. This is usually an agreement between the seller
and the buyer regarding the sale of a property an asset. An individual purchasing the product or
asset is called the buyer while the other disposing of the property is the seller. Regarding this,
there are various rights and obligations of both parties involved and this may involve
documenting the sale agreement to make it legally binding among other issues.
1A purchase and sale agreement is necessary for both the buyer and seller as it allows for
negotiations between the parties involved helps both parties in agreeing on a fair price and
documents the terms of the sale. This agreement should be assigned after all contingencies in the
sale have been recognized and acknowledged by both parties.
This paper will categorically address two cases regarding the sale of property; a second-hand
range rover and a camera. In each of these two cases, there would be an analysis of some of the
aspects stipulated therein and some of the remedies that each of the parties involved will have
regarding the outcome of the sale.
Case I: Sale of a range rover
In this case, the purchaser bought a second had ranger rover at a price of 10 grands. In the
purchase process, it was clearly mentioned that it was sold at a slightly lower price because it had
an accident but had been repaired before the actual sale. The buyer went ahead and took a drive
test to ensure that the car was indeed in good shape and condition. Once the purchase was
1 Hayward, Kelsey A. "Disgorgement of Defendant's Gains from Opportunistic Breach of
Contract: Its Fit in Rhode Island." Roger Williams UL Rev. 22 (2017): 614.
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made, the buyer later realized that the car was too noisy, something they had missed during the
test drive. After a 40-day period, the tumble of the car broke down and this affected the car's
performance in a very significant manner. On contacting the seller, they insisted that the buyer
should fix the car with their own expense.
Here, it will entirely depend on some of the issues agreed upon during the sale by both parties. A
breach of contract will only arise in the case where one was signed. 2A breach of contract
happens when one of the parties goes against terms outlined in the sales contract. According to
the Uniform commercial code a seller-induced breach often occurs where sold property or item
does not fully match descriptions stipulated in the contract and where the delivery is not done.
3This may also be accompanied by any form of written or implied warranties and guarantees on
the performance of the property in question.
In the sale of the car, there is an implied guarantee of performance as the seller had indicated that
the car was repaired ad was now functioning well after the slight accident it had. Here, this a
breach of contract because of the implied guarantee for performance, something that did not turn
out to be true. 4This is so because a few days after the purchase, the buyer noticed that the car
was way too noisy and the tumble broke down some forty days later and its performance was
2 Jacobi, Osnat, and Avi Weiss. "The effect of time on default remedies for breach of
contract." International Review of Law and Economics 35 (2013): 13-25.
3 Ayres, Ian, and Ian Ayres. Studies in Contract Law. Foundation Press, 2012.
4 Rowan, Solène. Remedies for Breach of Contract: A Comparative Analysis of the Protection of
performance. Oxford University Press on Demand, 2012.
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