Page 148 - DMGT407Corporate and Business Laws

Unit 5: Law of Sale of Goods

14. A agrees to buy a horse on condition that he will pay the price after a week’s trial. The Notes
horse died on the third day without the fault of either of the parties. Who shall bear the
loss?
15. A hirer obtains possession of a car and immediately sells it to B who purchases it in good
faith. Has B become the owner of the car?

Answers: Self Assessment

1. bilateral 2. money

3. Existing 4. Future
5. conditions 6. time
7. specific 8. unascertained

9. owner 10. factor
11. voluntary 12. C. I. F contract
13. insolvent 14. measure of damages
15. refund of price 16. specific
17. ‘three times’. 18. voidable

19. ‘let the buyer beware’. 20. fraud

5.14 Further Reading

Book S.S. Gulshan, Business Law, Excel Books, New Delhi, 2006.

Online links www.financedoctors.net/Notes/60.pdf

www.legalservicesindia.com/articles/condi.htm

LOVELY PROFESSIONAL UNIVERSITY 141