Law Presentat

8/14/2019 Law Presentat

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TRANSFER OF PROPERTY &

UNPAID SELLER

PRESENTED BY:SUMIT SAHA

SATYABRAT MUDULI

AMIT RANJAN

ANIL KUMAR SWAIN

MANISA DASSUBHRANTIKA PATTNAYAK

PRITA ROY


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TRANSFER OF PROPERTY

Transfer of Property in goods means transfer ofownership of goods from seller to buyer.

It is different from possession of goods

Where possession of goods means control ofgoods

In case of sale,the property of goods istransfered from seller to buyer immediately

In case of agreement to sale, transfer of propertyis take place at future period of time


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IMPORTANCE OF TRANSFER OFPROPERTY

RISK FOLLOWS OWNERSHIP

ACTION AGAINEST THIRD PARTIES

INSOLVENCY OF THE SELLER OR BUYER

SUIT FOR PRICE


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PASSING OF PROPERTY

when the property in goods passes as to the buyer asfollows

Goods must be ascertained:The property ofgoods is transfered from seller to buyeronly goods is ascertained.

INTENTION OF PARTIES:When there is a

contract for the sale of the ascertainedgoods, the property in them passes to thebuyer at the parties intend it to pass


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2.Unascertained goods

3.Goods sent on approval or on sale orreturn

i.when the buyer signifies his approvalor acceptance to the seller

ii.when buyer does any other actadopting the transcation.


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Transfer of Title by Non Owner

1. Title by estoppel

2. Sale by mercantile agent

3. Sale by co-owner

4. Sale by person in possession of goods undervoidable contract

5. Sale by seller in possession after sale

6. Sale by buyer in possession of goods7. Unpaid sellers right of resale

8. Sale under the provisions of other act.


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UNPAID SELLER

According to sec 45 (a) of the sale of goodsact 1930 the seller of good is deem to beunpaid seller when:-

A.The whole of price has not been paid ortendered

B.A bill of exchange or other negotiable

instrument was given as a payment,but thesame has been dishonoured,unless thispayment was an absolute,and not aunconditional payment.


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RIGHT OF AN UNPAID SELLER

A.RIGHT OF UNPAID SELLER AGAINST THE GOODS

1.RIGHT OF LIEN(SEC-47)

2.RIGHT OF STOPPAGE OF TRANSIT

3.RIGHT OF RESALE

CONTD.


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B.RIGHT OF UNPAID SELLER AGAINSTTHE SELLER

1.SUIT FOR PRICE(SEC 55)

2.SUIT FOR DAMAGES FOR NON ACCEPTANCE(SEC -56)

3.REPUDIATION OF CONTRACT BEFORE DUE DATE

4.SUIT FOR INTEREST[(SEC 61(2)(D)]


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RIGHT OF PARTIES IN CASE OF BREACHOF CONTRACT

[A].BUYERS RIGHT AGAINST SELLER (SEC57)

1.SUIT FOR NON DELIVERY

2.SUIT FOR SPECIFIC PERFORMANCE

3.SUIT FOR DAMAGES FOR BREACH OF CONTRACT

4.SUIT FOR RECOVERY OF PRICE

CONTD ..


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SELLERS RIGHT AGAINST THE BUYER(SEC 55-56)

1.SUIT FOR PRICE

2.DAMAGES FOR NONACCEPTANCE


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