Unpaid Seller Definition: In a transaction of sale it is not possible to avoid credit sales. In credit sales there is a risk of a debtor not paying the price of the goods even after the credit period is over. The seller of the goods therefore must possess some rights which he can use to secure payment of the price. If the recovery of the price is not possible due to the reason of bankruptcy of the buyer‚ he must have some other remedies. The Sale of Goods Act has made elaborate provisions regarding
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Sales Agreement THIS SALES AGREEMENT (the "Agreement") dated this 12th day of March 2012 BETWEEN: |Brenda’s Widgets‚ Inc. (BWI) of 123 Main St.‚ Podunk‚ Iowa | |(the ’Seller ’) | |OF THE FIRST PART | |- AND -
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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
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PRESCRIPTION Chapter 1 GENERAL PROVISIONS Article 1106. By prescription‚ one acquires ownership and other real rights through the lapse of time in the manner and under the conditions laid down by law. In the same way‚ rights and actions are lost by prescription. COMMENT: (1) Definition of Prescription Prescription is a mode of acquiring (or losing) ownership and other real rights thru the lapse of time in the manner and under the conditions laid down by law‚ namely‚ that the possession should
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Amanda Prieto Bus 233-004LY Criminal Law Essay 10/14/11 Obligations and Rights As what I have read‚ the obligations and rights in reference to criminal law‚ every case is different. The most common cases when defending oneself against a criminal charge are “I didn’t do it” and “I did it but I shouldn’t be held responsible.” In one of the defenses of a criminal charge‚ there is one topic where people are innocent until proven guilty. It is an actual presumption where the judge and jury assume
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Research Paper Title 2008/9 ‘Termination of the contract as a remedy for breach of contract by the seller: a comparison between English law and the CISG.’ A Research Paper submitted to the University of Manchester for the Degree of LL.M Masters (International Business Law) in the Faculty of Humanities. School of Law ID#744178 April 2008/9 Declaration i. No portion of the work referred to in the research has been submitted
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OBLIGATIONS From latin words‚ obligatio/obligare – “to tie” or “to bind” Juridical necessity – enforceable to courts 1) CIVIL (positive) and Natural 2) REQUISITES OF OBLIGATION a) Active – creditor / obligee – has the right b) Passive – debtor / obligor – has the duty c) Prestation – object / subject matter c.i) Obligation to give (Real Obligation) (c.i.1) Determinate Thing – res perit domino – thing perishes with the owner (c.i.1.a) Standard care – diligence of a good father / if the
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Letter of Intent is considered to be a discussion sheet and not a written contract where the companies are totally bond to complete the written acts. So considering the same‚ if the deal falls through‚ either of the company has to be bounded unless and until specified in the non-disclosure agreement. Letter of Intent is occasionally considered as the fact of bonding among the parties if LOI closely resembles a formal contract. LOI shorts with what do to when the deal among the parties doesn’t work
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Organisation Level 2 2010/11 ‘Seller concentration levels are of interest on both theoretical and public policy grounds’. Discuss. Market structure plays an important role in any industry. Examining the market structure is essential for firms to perform well and behave rationally. The key characteristics of market structure include the number and size of firms‚ the existence and height barriers to entry and exit‚ and the degree of product differentiation. Seller concentration refers to the number
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the contract‚ such as being a small business or a disadvantaged small business? o Financial capacity - Does the seller have the financial capacity to do the job‚ or is the seller in a position to obtain the necessary financial resources to do the job? o Production capacity and interest - Does the seller have the capacity and the interest to meet future potential requirements? o References - Can the seller provide reliable references (such as from previous customers) verifying the seller ’s work
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