141258792-Transfer-of-Property-ppt.ppt law

141258792-Transfer-of-Property-ppt.ppt

1. Transfer of Property
Rules regarding transfer of
property
1.In specific or ascertained goods :
If the intention of the party be judged then the
following rules shall apply
When goods are in deliverable state
When goods have to be put into deliverable
state.
When goods have to be measured to ascertain
the price

2. Rules regarding transfer of property
2. In unascertained or future goods :
The ownership of unascertained goods is
transferred to the buyer when the
following two conditions are fulfilled :
The goods must have been ascertained
The goods must have unconditionally
appropriated by the seller or the buyer
with the consent of the other.

3. Rules regarding transfer of property
3. In goods sent on approval or “on sale or
return basis” :
It mean those goods in respect of which the buyer
has the option either to return or retain.
The property in such type of goods passed on to
the buyer when
He signifies his approval or acceptance to the
seller or does any other act
If he does not signify his approval or acceptance
to the seller but retains the goods without giving
notice of rejection beyond the time fixed or a
reasonable period of time.

4. Performance of a contract of sale
Duty of the seller and the buyer
Delivery
Modes of delivery
Actual delivery
Symbolic delivery
Constructive delivery

5. Rules regarding delivery
1.Delivery may be either actual or symbolic or
constructive.
2.Delivery and payment are concurrent.
3.Delivery to be made to buyer.
4.Part delivery.
5.Buyer to apply for the delivery.
6.Mode of delivery.
7.Place of delivery
• Goods are to be delivered at the place at which they are at
the time of sale.
• Goods agreed to be sold are to be delivered at the place at
which they are at the time of agreement to sell
• Goods not then existence are to be delivered at the place at
which they are manufactured or produced.

6. Rules regarding delivery
8. Time of delivery.
9. Demand at reasonable hour.
Goods in possession of third person.
10. Expenses.
11. Installment delivery.
12. Goods delivered at distant place.

7. Delivery of wrong quality
Incase of short delivery.
Incase of excess delivery
Where the seller mixes his goods with the
buyer’s goods.

8. Acceptance of delivery
Acceptance of delivery by the buyer.
Rules of acceptance
Examining goods
When is it accepted?
He intimates to the seller that he has accepted it
Where goods are delivered to him or does some action
After lapse of time he retain the goods

9. Buyer’s liability for rejecting ,neglecting, or
refusing delivery of the goods
Pay for
Any loss occasioned by his neglect or
refusal to tae delivery
Reasonable charge for the care and
custody of goods.

10. Rights and duties of the buyer
Rights
To receive the goods
To repudiate the contract if the seller commits breach of
contract.
To have reasonable opportunity yo examine the goods
To sue the seller for damages for non delivery of the
goods.
To sue the seller for specific performance of the contract.
To sue the seller for the breach of warranty.
Incase of breach of contract by the seller , when the
buyer sues for the refund of the price ,the buyer has the
right to claim the interest on the amount of price paid

11. Duties
To pay for the goods and delivery thereof
To apply for the delivery of goods
To compensate seller for any loss
occasioned by his neglect

12. Rights of seller
To receive the price of the goods
To receive compensation or sue for the damages
To receive reasonable charge for care and custody of the
goods.
If he is unpaid seller then to exercise his right of lien
Sue the buyer for damages for wrongfully neglecting or
refusing to accept the goods
To recover the interest
Sue for the price of the goods
Sue for the damages on the buyer for repudiating the
contract.

13. Duties
To deliver the goods when the buyer
demands.
To compensate the buyer if he repudiates
the contract.
Give reasonable opportunity to the buyer
to examine the goods
To compensate the buyer if the prodoct is
of wrong quantity.