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Contract Act and Sale of Goods Act : Report

Added on - 21 Jan 2020

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Table of ContentsINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................21.1 Terms regarding the sale of good and supply of services.....................................................21.2 Statutory provisions on transfer of property.........................................................................31.3 Buyer and seller remedies.....................................................................................................41.4 Product liability for faulty goods..........................................................................................4TASK 2............................................................................................................................................52.1 Different types of credit agreements.....................................................................................52.2 Rules of termination right.....................................................................................................52.3 Features of general agency....................................................................................................62.4 Rights and duties of agent.....................................................................................................7TASK 3............................................................................................................................................73.1 Monopolies and anti-competitive practices..........................................................................73.2 Role of Competition Commission.........................................................................................83.3 Dominant position in EU common market...........................................................................93.4 Exemption are available to potential anti-competitive practices..........................................9TASK 4..........................................................................................................................................104.1 Different forms of intellectual property rights....................................................................104.2 principle for protection of invention through patent right..................................................114.3 Principles relating to copyrights..........................................................................................114.4 Protection of trade mark and business names.....................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONBusiness law has defined various laws and regulation in which both the parties are boundwith legal terms. It covers different types of laws. The person is entitled to gain all theknowledge which are related with business law which help them how to form and run thebusiness. The government has framed many regulation which provide rights to consumers inorder to protect their duties (Zimmerman, 2011). Business law include many federal laws areincluded. These laws are made by the parliament and government. In business law various ruleshas been establish and every business have to follow. In present report, different types of law hasbeen discussed such as contract act, sale of goods act and so on. Further, Competition Act 1998has been discussed. In this act government has imposed some restriction on overseas companiesfor entering into in anti competitive practices.TASK 11.1 Terms regarding the sale of good and supply of servicesAccording to Sale of Good Act 1979, this act applies when where two or more than arechanging the tangible products in terms of money. As per the provision of section 2(1) of this actdefines that a contract is made between two parties where they agree to transfer the property interms of consideration. The contract which has been done by the seller it may be absolute orconditional. It depends on the party that in which they are entering in contract (Urice, 2010). Onother side Supply of Goods and Services Act 1982, it covers all the work which are carried outby the people who provide services in terms of trade. The services should be provided inreasonable price.As per given scenario, Ben was the buyer who decided to purchase the car. One day hechecked out that there was a car available in dealer and the price of that car was within hisbudget. Next day he went to car dealer and paid the advanced amount 150 pond which was non-refundable. After few days, when he purchased the car, he took his family for an inter-citymotorway cruise. At some point of time, the engine of car was slow down and stopped and it isoverheating. From this situation Ben got annoyed and decided to return the car. But the cardealer refuse to take the car back. The reason was behind that he already signed clause 9 whichclearly show that, “after purchasing of from the seller it is not the responsibility of their. It the
responsibility of buyer to check the products before buying them”. The sale was made inabsolute.The following are some terms and conditions which are implied at the time of selling thegoods to customers. These implied conditions are applied on buyer and seller.Title –When the goods are sold by the seller to buyer then along with this title alsotransfer to buyer. Through the title it indicates that whether the products is belonging to right ofseller or not.Sale of description of goods– It the responsibility of buyer to provide proper descriptionof products and services to customers (Tushnet, 2016). The products can be classified accordingto their features, brand etc. If seller does not do that then it became his/her liability tocompensate the amount to buyer.1.2 Statutory provisions on transfer of propertyThere are numerous rules and regulations which has been made in the provision of salesof good act. These provision are applied to both the parties buyer and seller while making anysale of products and services. There are some provision which has to be followed by the buyerand seller at the time of selling the goods. Ben also have to considered all the provision.Intention of parties– While making any contract with anyone it is responsible of boththe parties to clarified. Through this it will be came to know about that whether the party isinterested in selling or purchasing the goods. In given case scenario, it clearly showed that thenature of Ben is serious about the purchase of car.Transfer of ownership– When the goods has been sold by the seller to buyer then alongwith the all the rights of buyer are also transferred. It also transferred all the risk which areassociated with the goods.Specific goods– The seller has to specify all the goods which they are selling to buyer(Renke, Roestoff and Haupt, 2017). When there is formation of contract then seller shouldconvey that these goods are going to sale. In given scenario, there is a unconditional sale.Case law,Rowland v Divall [1932] 2 KB 500, In this decision of court held that thedefendant have not any rights to sell the goods in which he have not obtain the title from thethief. The ownership of products ever remain with the primary buyer. The claimant is not entitledto pay any compensation for the activity which was carried out by the car.
1.3 Buyer and seller remediesIn sale of good act, it has also defined the remedies of buyer and seller in regard topurchase and sale of products and services. These are as follows.Buyer's remedy:Damage of non delivery of goods– When the seller wrong fully refuses or neglects todeliver the goods to buyer, the buyer have right to to claim against the seller (Qi, and et. al.,2010). If there is measure damage of goods which is estimated by the natural resulting in theordinary course of business the buyer can breach the contract.Remedy for breach of warranty– If seller has breach the warranty, then buyer have rightto breach such warranty to reject the entitled goods; but they have to prove that, seller of breachof warranty is in diminution of the prices or have to maintain the action against the damages forbreach of warranty made by the seller.Seller remedies:If buyer had not paid the amount as per the contract the seller have right to take the actionagainst them. For an example, C buy the goods from D and C did not paid the amount toD. then D have right to claim against him.If buyer refuses to accept the goods, the seller can also claim for compensating theamount.The seller have right to resale the products if they in perishable in nature.1.4 Product liability for faulty goodsAccording to the Consumer protection act, the person have right to claim against theother person to compensate the amount. If any person is suffer from the injury and it is justbecause of defective products which are produced by the manufacturer. Then the person isresponsible for the products to sue against the tort of negligence. The Consumer protection act1987 was amended by the General Product and safety Regulations 2005. This act introduced thestrict liability on the manufacturer of defective goods (Nayak, 2015). Section 2 of consumerprotection act indicates that producer, supplier, importers are responsible for the defective goods.The claimant amount should be above 275 pond.As per given case, Ben has purchase the car from the dealer. After a few days, he took hiscar at motor cruise and his car was found with defective. In this case, Ben is liable to recover he
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