Contract of sales

Meaning of sales of goods: The contract of sales of goods is governed by the law of contract. According to the sales of goods Act of 1893. Sales of goods is a contract of goods whereby the seller transfers or agrees to transfer property in goods to a buyer for money consideration called the price.

FEATURES OF CONTRACT OF SALES

1. There must be agreement to transfer property in goods.
2. The property may be transferred immediately under the contract or it may be agreed to be transferred.
3. There must be a buyer and a seller.
4. There is money consideration on called price.

IMPLIED PROVISIONS OF THE SALES OF GOODS ACT 1893

1. Right of seller to sell.
2. That the goods shall correspond with the description.
3. That the goods must be of merchantable quality.
4. That the goods shall be fit for a particular purpose.
5. That the bulk of goods shall correspond with sample.
6. That the goods shall be free from any encumbrance at the time property is to pass.
7. That the goods shall be delivered and accepted.

CONTRACTUAL RULES FOR THE SALES OF GOODS.

1. Existence of an agreement.
2. Intention to create legal relations.
3. Contractual capacity of parties.
4. It must be supported by valuable considerations.

RIGHTS OF THE UNPAID SELLERS.

The seller has the following rights;

1. Right to lien.
2. Right to stoppage in transit.
3. Right to re-sell.
4. Right to sue the buyer for the price.
5. Right to sue buyer for non-acceptance.

RIGHT TO THE BUYER

The buyer has the following rights in a contract of sale;

1. He can sue for non-delivery.
2. He can sue to recover purchase price.
3. Right to sue the specific performance.
4. Right to repudiate the contract.

ASSIGNMENT

Explain the right of a buyer