Business Environment and Law-Sale Of Goods Act 1930
Perishing Of Goods-Sale Of Goods Act 1930
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After a contract of sale is made the subject matter of the contract may be destroyed or it may be found that the subject matter had already been destroyed before the date of making the contract, the effect of the two cases would be different.
Perishing
Of Goods
After a contract of sale is made the subject matter of the contract may be destroyed or it may be found that the subject matter had already been destroyed before the date of making the contract, the effect of the two cases would be different.
A. Goods
perishing before the contract of sale (Sec.7) provides, “where there is a contract for the
sale of specific goods, the contract is void, if the goods without the
knowledge of the seller have, at the time when the contract was made, perished
or become so damaged as no longer to answer to their description in the
contract.”
After a contract of sale is made the subject matter of the contract may be destroyed or it may be found that the subject matter had already been destroyed before the date of making the contract, the effect of the two cases would be different.
B. Goods
perishing after the contract of sale is made
1. Perishing before sale but after an agreement to sell: “unless otherwise agreed, the
goods remain at the seller’s risk, until the property therein is transferred to
the buyer…”
2. Goods perishing after sale: In sale, goods are destroyed after sale. The loss arising from the destruction or damage of the goods would be borne by the buyer.(Sec.26)
2. Goods perishing after sale: In sale, goods are destroyed after sale. The loss arising from the destruction or damage of the goods would be borne by the buyer.(Sec.26)
Tags : Business Environment and Law-Sale Of Goods Act 1930
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