(a) What is a contract of sale of goods? (b) State any three of its...
(a) What is a contract of sale of goods?
(b) State any three of its provisions.
(c) Explain two conditions that constitute acceptance in the contract of sale of goods.
Explanation
(a) Contract of sale of goods; is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a money consideration called the price.
(b)The provisions of contract of sale of goods include:
(i) The price in a contract of sale may be fixed by the contract or may be left to be fixed in a manner thereby agreed.
(ii) The seller has the right to sell the goods.
(iii) The goods sold must correspond with the description.
(iv) The goods sold must be reasonably fit for the purpose for which it is meant.
(v) There is an implied condition that the goods are of merchantable quality.
(vi) The bulk shall correspond with the sample in quality.
(c) Conditions that constitute acceptance in the contract of sale of goods are:
(i) If the buyer retains the goods without giving notice of rejection within a reasonable time.
(ii) When the buyer signifies his approval or acceptance to the seller.
(iii) He does something inconsistent with the title of the seller.