Name and Discuss All the Sellers Obigations in Detail with Regards to a Contract of Sale. Your Discussion Should Include a Lenghty Discussion on the Sellers Liabiliy for Latent Defects.
NAME AND DISCUSS ALL THE SELLERS OBIGATIONS IN DETAIL WITH REGARDS TO A CONTRACT OF SALE. YOUR DISCUSSION SHOULD INCLUDE A LENGHTY DISCUSSION ON THE SELLERS LIABILIY FOR LATENT DEFECTS.(25) OCT/NOC 2011
Contracts bring about certain rights and obligations. A contract is a legal bond between a seller and a purchaser. The purchaser has the right to claim performance and the seller has OBLIGATIONS to perform.
THE SELLERS OBLIGATIONS
1-THE SELLERS DUTY TO PROTECT
From the time of the conclusion of a contract of sale, the seller is obliged to take care of the merx until it is delivered. The seller is liable for breach of contract if the merx is destroyed. However if a third party is at fault, then the seller is not responsible.
2- THE SELLERS DUTY TO DELIVER
The seller is obliged to deliver the thing to the purchaser and give the purchaser full possession.
3- THE SELLERS LIABILITY FOR LATENT DEFECTS
The general principal is that the law imposes an obligation on every seller to assume responsibility for latent defects, even if the seller is unaware of the latent defects and even if the seller gave no guarantee.
The scope of the seller’s liability grants the purchaser the right to demand cancellation of the contract of sale due to the seriousness of the defect. The purchaser must also return everything received from the seller. The second option to the purchaser is to claim a reduction in price, which is calculated as the difference between the purchase price of the product and the actual value of the defective merx.
WAIVER AT THE TIME OF CONCLUSION OF THE AGREEMENT
The seller will not be liable for latent defects if the contract of sale excludes the seller’s liability for latent defects. (The well known voetstoots clause). However the seller will be liable if he conceals the defect to the purchaser and on the basis of misrepresentation.
LATENT DEFECTS IN REPAIRS
A contract of letting and hiring services is not the same as a contract of sale and is
Contracts bring about certain rights and obligations. A contract is a legal bond between a seller and a purchaser. The purchaser has the right to claim performance and the seller has OBLIGATIONS to perform.
THE SELLERS OBLIGATIONS
1-THE SELLERS DUTY TO PROTECT
From the time of the conclusion of a contract of sale, the seller is obliged to take care of the merx until it is delivered. The seller is liable for breach of contract if the merx is destroyed. However if a third party is at fault, then the seller is not responsible.
2- THE SELLERS DUTY TO DELIVER
The seller is obliged to deliver the thing to the purchaser and give the purchaser full possession.
3- THE SELLERS LIABILITY FOR LATENT DEFECTS
The general principal is that the law imposes an obligation on every seller to assume responsibility for latent defects, even if the seller is unaware of the latent defects and even if the seller gave no guarantee.
The scope of the seller’s liability grants the purchaser the right to demand cancellation of the contract of sale due to the seriousness of the defect. The purchaser must also return everything received from the seller. The second option to the purchaser is to claim a reduction in price, which is calculated as the difference between the purchase price of the product and the actual value of the defective merx.
WAIVER AT THE TIME OF CONCLUSION OF THE AGREEMENT
The seller will not be liable for latent defects if the contract of sale excludes the seller’s liability for latent defects. (The well known voetstoots clause). However the seller will be liable if he conceals the defect to the purchaser and on the basis of misrepresentation.
LATENT DEFECTS IN REPAIRS
A contract of letting and hiring services is not the same as a contract of sale and is