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No seller of goods can give the buyer of a goods a better title to the goods than he himself has?
Only the owner of the goods or his authorized person can sell the goods. If the seller is not the owner of the good then a buyer cannot become the owner of the good even he has paid the value of good.
Example :- Mr. Tutul steal a car and sells to Mr. Yunus for sale. Mr. Yunus cannot become the owner of a car because Mr. Tutul seller was not the owner of car.
1. Agent Exceptions of Rules:-
If goods are in a possession of a mercantile agent, he can pass a good title even he had no authority or his authority was restricted.
2. Sale by Unpaid Seller:-
An unpaid seller can sell the goods to the subsequent buyer if first buyer fails to make the full payment.
Example:- Mr. Yunus sells a horse to Miss. Tazin for ten thousand and receives Tk. 3 thousand advance. Miss. Tazin promises to pay the balance on next Sunday at the time of delivery. Miss. Tazin does not pay the balance on Sunday. Mr. Yunus retains the horse and sells it to Mr. Tutul.
3. Sale by Pledgee:-
Under some special circumstances a pledgee can also sell the goods and buyer also gets a good title.
Example:- Mr. Tutul borrows Tk. 100 lac from commercial bank and pledges his 10 acre land. Mr. Tutul fails to return the loan and Commercial bank sells the land to Mrs. Yunus the buyer gets the good title.
4. Sale of Lost Goods:-
If a person finds some lost good. Finder can sell the goods under some circumstances. The buyer gets the good title.
Example:- Mr. Yunus finds a lost cow in the well. He hires the services of some people and draws the cow out of well. He spends $ 500 on this event. Mr. Tutul owner of the cow comes to know about the refuses to pay $ 500 to Mr.Yunus. Mr. Yunus sells the cow Mr. Kamal. Mr. Kamal gets a good title.
5. Mercantile Agent:-
If the goods or documents of title are in the possession of a mercantile agent, he can pass a good title. He can convey a better title to the buyer without having any authority to do so.
6. Second Sale Due To Possession:-
A person has sold the goods but the goods or documents continuously remains in his possession. He may sell them to the third party. If third party obtains the delivery of the goods and he has no knowledge about the previous sale he will get a good title.
Example:- Mr. Yunus sells a horse to Miss. Farha has no place to keep it in her house. She leaves the horse in the house of Mr. Yunus. Mr. Yunus sells horse Miss. Zabeen fraudulently who buys in god faith. Miss. Zabeen will get a good title to the horse.
7. Sale by One of the Joint Owner:-
If there are many partners in business and one of them has the sole possession of goods with the permission of the other partners. If he sells the goods, the buyer will get a good title of goods, if he buys in good faith.
Example:- There are three parties "X", "Y" and "Z". They own a shop in common. Shop is in the possession of "X" and he looks after the shop. "X" sells the shop to "M". "M" gets a good title.
8. Sale under Implied Authority:-
In some cases the conduct or any act of owner of goods leads the buyer to believe that seller id the owner of the goods. It is presumed that seller has the authority to sell the goods. In such cases buyer can get a better title of goods than the seller.
Example :- Mr. Yunus a factory owner gives his employee. Mr. Tutul a quarter for living and also allows to repair. Mr. Tutul writes his name on the quarter and also do some repair to induce the public to believe that quarter belongs to him. Miss Sonny purchased the house from Mr. Yunus in good faith. So Sonny acquires a good title than a seller.
9. Sale under Voidable Contract:-
If a person obtains the goods under voidable contract and sells before the revocation of contract to other person. The buyer who obtains such goods has better title of goods if he acts in good faith.
Example:- Mr. Yunus by misrepresentation induced Mrs. Farha to sell and deliver his car to him. After obtaining the car he sells the car to Miss. Tuba before the revocation of contract. Miss Tuba purchases the car in good faith and she does not know that title is defective. She acquires a good title.
10. Solvency Case:-
In case of companies and individuals the official receiver can convey better title to the buyer.
Example:- Mr. Shoel becomes insolvent. Mr. Yunus is the official receiver of Mr. Shoel, and he can sell some goods of Mr. Shoel to Mr. Ali. Mr. Ali gets a good title.
11. Sale before the Agreement To Buy:-
A buyer obtains possession of the goods with the consent of the seller, he may sell or pledge before the agreement completes.
Example:- Mr. Tutul agrees to buy a bus a pay for it, if his lawyer approves it. Mr. Tutul obtained the possession of the bus and sells to Miss. Tazin. After his lawyer disapproves. In this case Miss. Tazin gets a good title.
What else can I help you with?
What is a buyer and seller of goods called?
Buyer is a consumer Seller is a Distributor
What does the term mutually beneficial economic partnership mean?
A mutually beneficial economic partnership is where both the buyer and the seller benefit from the exchange of goods (or money for goods) without being exploited: The seller offers their goods or service at a reasonable price without attempting to maximize profit while the buyer responds in kind by not attempting to undercut the Seller and make him lose profit.
What is the difference between FCA and FOB in...?
FCA means Free Carrier (at named place): seller hands the goods over to buyer's designated carrier (pre-cleared for export) at the named place. This term is applicable to goods for transport by air, rail, road and containerised/multi-modal transport. Cost and risk change from buyer to seller as soon as the goods are accepted and signed for by the buyer's designated carrier. FOB means Free On Board (at named loading port): technically, the seller must load the goods on board the ship designated by the buyer, with cost and risk changing from buyer to seller as the goods pass over the imaginary vertical line defined by the ship's rail. This term is only applicable for Maritime transport, and is often misapplied for the terms FCA or FAS.
What does a buyer do When goods are shipped FOB destination and the seller pays the transportation charges?
makes no journal entry for the transportation
Why is it important to ascertain the time at which the property in goods passes from the seller to the buyer?
Determining when property in goods passes from the seller to the buyer is crucial for establishing legal ownership and responsibility for the goods. It affects the parties' rights and obligations, including risk of loss, liability for damages, and the ability to transfer or encumber the goods. This clarity is essential in commercial transactions to prevent disputes and ensure proper fulfillment of contractual agreements. Additionally, it has implications for tax liabilities and compliance with legal requirements.
What is a buyer and seller of goods called?
Buyer is a consumer Seller is a Distributor
What is the difference between ex-works and FOB?
Exworks: The seller is responsible for the goods till the factory outlet and after outlet, the buyer is responsible for goods, customs till the buyer's door. FOB(Free on Board): The seller is responsible for the goods till the port of departure where customs will be be looked after by seller and after departure from the seller's port, the buyer is responsible for the goods till the buyer's door.
What is buyer mandate?
The imposition of product or service specifications or performance requirements imposed by a Buyer on a Seller as a precondition of the Buyer purchasing goods or services from Seller.
What is the buyer mandate?
The imposition of product or service specifications or performance requirements imposed by a Buyer on a Seller as a precondition of the Buyer purchasing goods or services from Seller.
Who issues performance bond first seller or buyer?
Buyer is the one who is purchasing the goods from the seller...hence..the buyer must issue a non-operative PB to the seller...and the seller will issue an operative PB to activate the PB.
What is a credit notes?
A credit note (also known as a credit memorandum or credit memo) is a document that is issued by a seller to a buyer. The credit note is used to reimburse a buyer for goods that have been returned to the seller or for goods/services that were not received by a buyer.
What is the seller's responsibility in a destination contract if any goods are lost in transit?
In a destination contract, the seller is responsible for the goods until they reach the buyer's specified destination. If any goods are lost in transit, the seller is typically held accountable and must provide a remedy or compensation to the buyer.
What is credit notes?
A credit note (also known as a credit memorandum or credit memo) is a document that is issued by a seller to a buyer. The credit note is used to reimburse a buyer for goods that have been returned to the seller or for goods/services that were not received by a buyer.
What is the fob on a bill of lading?
FOB, or "Free on Board," on a bill of lading indicates the point at which ownership and liability for the goods transfer from the seller to the buyer. It specifies whether the seller or buyer is responsible for shipping costs and risks during transit. For instance, if the term is FOB shipping point, the buyer assumes responsibility once the goods leave the seller's location; if FOB destination, the seller retains responsibility until the goods reach the buyer's location.
No one can give what he himself has not?
Nemo dat quod non habet is a notion in the Sale of Goods Act, which is rather less floridly stated in section 21:Subject to this Act, where goods are sold by a person who is not their owner, and who does not sell them under the authority or with the consent of the owner, the buyer acquires no better title to the goods than the seller had, unless the owner of the goods is by his conduct precluded from denying the seller's authority to sell.
What does FCA mean in shipping terms?
FCA - FREE CARRIER (... named place of delivery) The Seller delivers the goods, cleared for export, to the carrier selected by the Buyer. The Seller loads the goods if the carrier pickup is at the Seller's premises. From that point, the Buyer bears the costs and risks of moving the goods to destination.
Trust Receipt advantage to the buyer?
The advantage is no credit, purely consigned the goods. If the goods unsold, the entrustee or buyer can return the goods to entruster or seller without incurring any liability.
