Mercantile agent sale of goods act. Indian Sale of Goods Act 1930 2019-01-10

Mercantile Agents: Meaning, Importance and Other Details

Sale may be made between one part-owner and another, 5. Kinds of Mercantile Agents : Mercantile agents may be classified: a On the basis of rights, and b On the basis of functions. Specific performance 55 1 In any action for breach of contract to deliver specific or ascertained goods, the court may, if it thinks fit, on the application of the plaintiff, order that the contract be performed specifically without giving the defendant the option of retaining the goods on payment of damages. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information a full list can be found in the Editorial Practice Guide. B Commission Agent: A commission agent is one who acts on behalf of his principal in buying and selling of goods in return for a commission. Section 10 says that Where there is an agreement to sell goods on the terms that- the price is to be fixed by the valuation of a third party, and such third party cannot or does not make such valuation, the agreement is thereby avoided.

The Sale of Goods Act, 1930

C Del Credere Agent: A del credere agent guarantees his principal for the payment for all the goods he sells irrespective of the payment received by him or not and for his additional risk which he bears, he is entitled to an additional commission over and above his normal commission. In Such contract the seller transfers or agrees to transfer the property in goods to the buyer, 3. Specific goods in a deliverable state, when the seller has to do anything thereto in order to ascertain price Where there is a contract for the sale of specific goods in a deliverable state, but the seller is bound to weigh, measure, test or do some other act or thing with reference to the goods for the purpose of ascertaining the price, the property does not pass until such act or thing is done and the buyer has notice thereof. Duration of transit 48 1 Goods are deemed to be in course of transit from the time they are delivered to a carrier by land or water, or other bailee, for transmission to the buyer, until the buyer or the buyer's agent in that behalf takes delivery of them from the carrier or other bailee. Rules as to delivery 33 1 Whether it is for the buyer to take possession of the goods, or for the seller to send them to the buyer, is a question depending in each case on the contract, express or implied, between the parties.

Sale of Goods Flashcards

. Where, in pursuance of a contract of sale, the seller is authorised or required to send the goods to the buyer, delivery of the goods to a carrier, whether named by the buyer or not, for the purpose of transmission to the buyer, or delivery of the goods to a wharfinger for safe custody, is prima facie deemed to be a delivery of the goods to the buyer. If the principal agrees, then an agent may appoint a sub-agent to help him and the sub-agent so appointed would be liable to the agent and not the principal. Part 4 — Performance of the Contract Payment and delivery are concurrent conditions 32 Unless otherwise agreed, delivery of the goods and payment of the price are concurrent conditions; that is to say, the seller must be ready and willing to give possession of the goods to the buyer in exchange for the price, and the buyer must be ready and willing to pay the price in exchange for possession of the goods. Payment and delivery are concurrent conditions Unless otherwise agreed, delivery of the goods and payment of the price are concurrent conditions, that is to say, the seller shall be ready and willing to give possession of the goods to the buyer in exchange for the price, and the buyer shall be ready and willing to pay the price in exchange for possession of the goods. Right of stoppage in transit Subject to the provisions of this Act, when the buyer of goods becomes insolvent, the unpaid seller who has parted with the possession of the goods has the right of stopping them in transit, that is to say, he may resume possession of the goods as long as they are in the course of transit, and may retain them until payment or tender of the price.

Section 2 of Sale of Goods Act, 1930

Sale by one of joint owners. Examples of general mercantile agents are factors, commission agents, branch managers, etc. He gets the possession of the goods and gives prior publicity to the time and place of auction through daily newspapers, pamphlets and catalogues. Thus in order to study the organisation of Home Trade, we must highlight the Middlemen who perform a vital role in moving the goods from their place of manufacture to their place of consumption. Risk where goods are delivered at distant place Where the seller of goods agrees to deliver them at his own risk at a place other than that where they are when sold, the buyer shall, nevertheless, unless otherwise agreed, take any risk of deterioration in the goods necessarily incident to the course of transit. Specific goods to be put into a deliverable state Where there is a contract for the sale of specific goods and the seller is bound to do something to the goods for the purpose of putting them into a deliverable state, the property does not pass until such thing is done and the buyer has notice thereof. Ascertainment of price 1 The price in a contract of sale may be fixed by the contract or may be left to be fixed in manner thereby agreed or may be determined by the course of dealing between the parties.

Sale of Goods Act 1893

He may have possession of goods or not. Where there is a contract for the sale of goods to be delivered by stated instalments which are to be separately paid for, and the seller makes no delivery or defective delivery in respect of one or more instalments, or the buyer neglects or refuses to take delivery of or pay for one or more instalments, it is a question in each case depending on the terms of the contract and the circumstances of the case, whether the breach of contract is a repudiation of the whole contract, or whether it is a severable breach giving rise to a claim for compensation, but not to a right to treat the whole contract as repudiated. It is applicable all over India, except r. Buyer's lien 75 1 If in the usual course of a seller's business the seller makes an agreement to sell goods and a the buyer pays all or part of the price, b the goods are unascertained or future goods, and c the buyer is acquiring the goods in good faith for use primarily for personal, family or household purposes, then the buyer has the lien described in subsection 2. In contracts of sale, amount of increased or decreased taxes to be added or deducted 1 Unless a different intention appears from the terms of the contract, in the event of any tax of the nature described in sub-section 2 being imposed, increased, decreased or remitted in respect of any goods after the making of any contract for the sale or purchase of such goods without stipulation as to the payment of tax Where tax was not chargeable at the time of the making of the contract, or for the sale or purchase of such good tax-paid where tax was chargeable at that time,- a if such imposition or increase so takes effect that the tax or increased tax, as the case may be, or any part of such tax is paid or is payable, the seller may add so much to the contract price as will be equivalent to the amount paid or payable in respect of such tax or increase of tax, and he shall be entitled to be paid and to sue for and recover such addition; and b if such decrease or remission so takes effect that the decreased tax only, or no tax, as the case may be, is paid or is payable, the buyer may deduct so much from the contract price as will be equivalent to the decrease of tax or remitted tax, and he shall not be liable to pay, or be sued for, or in respect of, such deduction. He is expected to execute his work on behalf of his principal with the same efficiency with which he performs his own work.

Sale of Goods Act

What is a reasonable price is a question of fact dependent on the circumstances of each particular case. Intention of the parties as to the passing of the property in the goods 23 1 Unless a different intention appears, the intention of the parties as to the time at which the property in the goods is to pass to the buyer is governed by the rules set out in this section. Risk passes with property 25 1 Unless otherwise agreed, the goods remain at the seller's risk until the property in them is transferred to the buyer, but when the property in them is transferred to the buyer the goods are at the buyer's risk, whether delivery has been made or not. Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. The decree may be unconditional, or upon such terms and conditions as to damages, payment of the price or otherwise, as the court may deem just, and the application of the plaintiff may be made at any time before the decree.

Notes For CPT

In such case, notwithstanding the delivery of the goods to a buyer, or to a carrier or other bailee for the purpose of transmission to the buyer, the property in the goods does not pass to the buyer until the conditions imposed by the seller are fulfilled. Contract of sale 8 1 Subject to this or any other Act, a contract of sale may be made in writing, either with or without seal, or by word of mouth, or partly in writing and partly by word of mouth, or may be implied from the conduct of the parties. Effect of transfer of documents on vendor's lien or right of stoppage in transit 65 If a document of title to goods has been lawfully transferred to a person as a buyer or owner of the goods, and that person transfers the document to a person who takes the document in good faith and for valuable consideration, the last mentioned transfer has the same effect for defeating any seller's lien or right of stoppage in transit as the transfer of a bill of lading has for defeating the right of stoppage in transit. Exchange of goods or documents 62 1 For the purposes of this Act, the consideration necessary for the validity of a sale, pledge or other disposition of goods may be either a payment in cash, or the delivery or transfer of other goods, or of a document of title to goods, or of a negotiable security, or any other valuable consideration. A commission agent performs the following duties: a To buy goods at the most reasonable rates and to sell the same at maximum profit; b To obtain orders from buyers and arrange for the goods from suppliers in his own name; c To arrange for packing, transport and delivery of goods; d To extend credit and collect payments; e To claim from the principal his commission and incidental expenses. Such assent may be expressed or implied, and may be given either before or after the appropriation is made.

Notes For CPT

Where goods are bought by description from a seller who deals in goods of that description whether he is the manufacturer or producer or not , there is an implied condition that the goods shall be of merchantable quality: Provided that, if the buyer has examined the goods, there shall be no implied condition as regards defects which such examination ought to have revealed. Ascertainment of price 12 1 The price in a contract of sale may be a set by the contract, b left to be set as agreed in the contract, or c determined by the course of dealing between the parties. Where the seller of goods draws on the buyer for the price and transmits to the buyer the bill of exchange together with the bill of lading or, as the case may be, the railway receipt, to secure acceptance or payment of the bill of exchange, the buyer is bound to return the bill of lading or the railway receipt if he does not honour the bill of exchange; and, if he wrongfully retains the bill of lading or the railway receipt, the property in the goods does not pass to him. Specific goods in a deliverable state Where there is an unconditional contract for the sale of specific goods in a deliverable state, the property in the goods passes to the buyer when the contract is made, and it is immaterial whether the time of payment of the price or the time of delivery of the goods, or both, is postponed. Sale by person in possession under voidable contract When the seller of goods has obtained possession thereof under a contract voidable under section 19 or section 19A of the Indian Contract Act, 1872, but the contract has not rescinded at the time of the sale, the buyer acquires a good title to the goods, provided he buys them in good faith and without notice of the seller's defect of title.