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Sales of Goods Act

In: Business and Management

Submitted By keshikawadhwa
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| SALE OF GOODS ACT, 1930 | | |

master of finance and control (Part 1)

September 30, 2011
Submitted by:
Nishtha Tewari-2506
Aditi Rao-2560
Jasmeet Kaur-2562

SALE OF GOODS ACT, 1930
ACKNOWLEDGEMENT

We would like to extend our gratitude towards Dr. Nidhi Jain for her guidance and constant supervision as well as for providing necessary information regarding the project & also for her support in completing the project.

SALE OF GOODS ACT, 1930
CONTENTS
I. Contract of Sale of Goods II. Overview III. Characteristics of a Contract of Sale of Goods IV. Sale v/s Agreement to sell V. Sale v/s Hire Purchase VI. Sale v/s Contract for Work and Labor VII. Kinds of Goods VIII. Perishing of Goods IX. The Price X. Modes of Price fixing XI. Agreement to sell at Valuation XII. Earnest or Deposit XIII. Stipulations as to Time XIV. Document of Title of goods XV. Conditions and Warranties XVI. Misrepresentation and Stipulation XVII. Conditions v/s warranties XVIII. When condition can be treated as warranty XIX. Implied Conditions XX. Warranties XXI. Implied Warranties XXII. Doctrine of Caveat Emptor XXIII. Exceptions to Doctrine of Caveat Emptor

HISTORY BEHIND THE ACT

* Sale of Goods act is a very old mercantile law. The Contracts of Sale of Goods was initially covered in Indian Contract Act, 1872 (Chapter V11) * Since the Indian Contract Act itself was a part of English Common Law, law relating to sale of goods followed the English Law * With developments in mercantile transactions, the law was altered and a separate ‘Sale of Goods Act’ came into existence on 1st July, 1930. It extends to the whole of India (except the State of Jammu and Kashmir) * General provisions of Indian Contract Act (such as offer, acceptance, consideration etc)

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