Assignment No.2
Business and Labour Law (MGT611)
Topic:
Contract Of Sales of Goods
LEARNING OBJECTIVES:
• What is a Sale of Goods Act?
• What are the main essentials of the Sales of Goods Act and how they are applied?
LEARNING OUTCOMES:
• Students will learn about the essentials of a Sale of Goods Act?
• Student will learn how a Sale of Goods is made and how it works between two parties.
CONCEPTUAL BACKGROUND:
The contract of sale is a general term includes a sale and an agreement to sale. When there is a
time or a condition, subject to which the property in the goods are transferred or fulfilled, an
agreement to sell becomes a sale. A sale of goods is a contract in which the seller transfers the
property or agrees to transfer in goods to a buyer for a price. Such laws aim at protecting
customers by ensuring that the goods offered for sale are safe and meeting all the standards of
quality and requirements of the customers.
THE CASE:
Mr. Nadeem purchased a second hand Honda Civic car from the famous car dealer. The car
dealer told him that the automatic system of the car is a little defective and will not cost him
more than rupees 30,000/-. The car dealer offered Mr. Nadeem a choice either to take the car on
a discounted rate, or he would repair it for the buyer and charge the full price. Mr. Nadeem opted
to avail the discount and get the car as it is. Later on, Mr. Nadeem came to know that the fault
would cost him rupees 40,000/- to get repaired. The car dealer had already mentioned the fault to
Mr. Nadeem, therefore the buyer does not have any right to return the car to the car dealer.
REQUIREMENT:
In the above case, a simple contract of sales of goods occurred, where the seller brought the main
defect in buyer’s consideration before final purchase, thus there is no point of deceiving or
misrepresentation of good. Being the student of business law, you are required to mention at
least five essential elements of a “Sales of Goods Act”. Points must be in your own words with
logical arguments. (Marks 5x3=15)
Business and Labour Law (MGT611)
Topic:
Contract Of Sales of Goods
LEARNING OBJECTIVES:
• What is a Sale of Goods Act?
• What are the main essentials of the Sales of Goods Act and how they are applied?
LEARNING OUTCOMES:
• Students will learn about the essentials of a Sale of Goods Act?
• Student will learn how a Sale of Goods is made and how it works between two parties.
CONCEPTUAL BACKGROUND:
The contract of sale is a general term includes a sale and an agreement to sale. When there is a
time or a condition, subject to which the property in the goods are transferred or fulfilled, an
agreement to sell becomes a sale. A sale of goods is a contract in which the seller transfers the
property or agrees to transfer in goods to a buyer for a price. Such laws aim at protecting
customers by ensuring that the goods offered for sale are safe and meeting all the standards of
quality and requirements of the customers.
THE CASE:
Mr. Nadeem purchased a second hand Honda Civic car from the famous car dealer. The car
dealer told him that the automatic system of the car is a little defective and will not cost him
more than rupees 30,000/-. The car dealer offered Mr. Nadeem a choice either to take the car on
a discounted rate, or he would repair it for the buyer and charge the full price. Mr. Nadeem opted
to avail the discount and get the car as it is. Later on, Mr. Nadeem came to know that the fault
would cost him rupees 40,000/- to get repaired. The car dealer had already mentioned the fault to
Mr. Nadeem, therefore the buyer does not have any right to return the car to the car dealer.
REQUIREMENT:
In the above case, a simple contract of sales of goods occurred, where the seller brought the main
defect in buyer’s consideration before final purchase, thus there is no point of deceiving or
misrepresentation of good. Being the student of business law, you are required to mention at
least five essential elements of a “Sales of Goods Act”. Points must be in your own words with
logical arguments. (Marks 5x3=15)
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