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Who is unpaid seller?
unpaid seller is the person who gives the goods to his costomer on credit & keep the balance due, exchange of bills on some condition keeps due.
What are the rights of unpaid seller?
The seller's personal remedies against the buyer by way of action for the price of the goods or for damages for non-acceptance are discussed in chapter 8. An unpaid seller may also have certain rights in rem-against the goods themselves - rights which are of special value in the case of the buyer's insolvency or inability to pay the price or damages.
Explain the remedies available to an unpaid seller in a contract of sale of goods?
1. Lien for the price 2. Right of stoppage of the goods in transitu 3. Right to resale of the goods 4. Right to withhold delivery 5. Action for the price 6. Damages
What is sale of goods?
The Sale of Goods Act 1979 affects English contract law. It includes a section on the sale of goods to minors, stipulating that the minor is liable to pay for the goods if they are deemed "necessaries." However, a contract is void if it the goods in question perish before the contract is formed. Other sections of the Sale of Goods Act pertain to change of ownership of goods, where goods are to be collected, and a seller's responsibility to repair damaged goods.
What is a buyer and seller of goods called?
Buyer is a consumer Seller is a Distributor
Is the new term of DAP same as DDU?
No, the new term DAP (Delivered at Place) is not the same as DDU (Delivered Duty Unpaid). While both terms indicate that the seller is responsible for delivering goods to a specified location, DAP requires the seller to clear the goods for export and deliver them ready for unloading, but does not include payment of import duties. In contrast, DDU, which is an older term, also involved the seller delivering goods without having paid import duties, but has been largely replaced by DAP in modern shipping terminology.
What are existing goods?
Goods present at the time of transaction with the seller
What is the sales of goods act?
The Sale of Goods Act 1979 affects English contract law. It includes a section on the sale of goods to minors, stipulating that the minor is liable to pay for the goods if they are deemed "necessaries." However, a contract is void if it the goods in question perish before the contract is formed. Other sections of the Sale of Goods Act pertain to change of ownership of goods, where goods are to be collected, and a seller's responsibility to repair damaged goods.
What is sales of good act?
The Sale of Goods Act 1979 affects English contract law. It includes a section on the sale of goods to minors, stipulating that the minor is liable to pay for the goods if they are deemed "necessaries." However, a contract is void if it the goods in question perish before the contract is formed. Other sections of the Sale of Goods Act pertain to change of ownership of goods, where goods are to be collected, and a seller's responsibility to repair damaged goods.
What does CIP DUP and DDU freight terms mean?
CIP (Carriage and Insurance Paid to) means the seller pays for transportation and insurance to a specified destination, transferring risk to the buyer once the goods are handed over to the carrier. DDP (Delivered Duty Paid) indicates that the seller takes on all responsibilities, including shipping and customs duties, delivering the goods ready for unloading at the buyer's location. DDU (Delivered Duty Unpaid) means the seller delivers the goods to the buyer's location but does not cover customs duties or taxes, leaving those responsibilities to the buyer.
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 ddu shipment?
DDU (Delivered Duty Unpaid)Seller fulfills his obligation to deliver when the goods have been made available at the named place in the country of importation. The seller has to bear the costs and risks involved in bringing the goods thereto (excluding duties, taxes and other official charges payable upon importation) as well as the costs and risks of carrying out customs formalities. The buyer has to pay any additional costs and to bear any risks caused by failure to clear the goods for in time.
