What documents govern the sale of goods?
Date: 2015-10-07; view: 743.
Unit 9
1. Give a definition to the term ‘transfer of title'. A Sale entails it.
Transfer of title – to convey or to pass property or a right to another person by a method.
2. Give a definition to the term ‘tangible chattel'.
‘Tangible chattel' – is a property other than land that is capable of being touched or felt.
3. Give a definition to the term ‘express warranty'.
‘Express warranty'– is a spoken or written promise made by the seller about the quality, performance or other considerations concerning the goods covered by the contract which would affect the buyer's decision to purchase.
Guarantee made by the seller, whether oral or written.
4. Give a definition to the term ‘implied warranty'.
‘Implied warranty' – is a warranty which is not clearly stated but that is imposed by the law due to the nature of the transaction.
5. Compare the terms ‘express warranties' and ‘implied warranties'.
‘Express warranties' can not negate (îòðèöàòü) an implied warranty of the relevant legislation.
‘Implied warranties'– are the warranties which don't need to be expressed but the law implies them.
6. Give a definition to the term ‘good faith'.
‘Good faith' – is a state of mind whereby (ïî ñðåäñòâîì ÷åãî) a person has an honest conviction (belief) that he is observing (following) reasonable commercial standards of fair dealing. It includes honest and serious intention,
7. Give a definition to the term ‘warranty of fitness'.
‘Warranty of fitness' – is a warranty that the goods being sold are suitable for the purpose for which the buyer is purchasing them.
8. Compare the terms ‘disclaimer' and ‘exclusion'.
They are two means of limiting warranty liability.
Disclaimer of warranty – is a negation (îòâåðãàíèå) or restriction (îãðàíè÷åíèå) of the rights under a warranty given by a seller to a buyer. It is the rejection to do smth, to say smth. Repudiation (refusal) of liability. Ïðàâîâàÿ îãîâîðêà?
Exclusion– is smth, what you want to avoid, don't want to accept. This conception is wider than disclaimer.
Exclusions are found in most commercial contracts. Their purpose is to define (describe) contractual duties and obligations and to provide a defence to claims of breach of contract.
Although ‘disclaimers' and ‘exclusions' are used interchangeably (equivalently) in various commercial contexts, they are in fact distinct concepts in the eyes of the law.
Generally, the function of a 'disclaimer' is to advise the person to whom it is addressed (before entering the contract) that the disclaiming party does not intend to undertake any duty towards that person. In other words, the aim of a disclaimer is to negate the existence of a duty of care. Although you can disclaim responsibility for a variety of duties in a contract, you can rarely disclaim responsibility for misleading or deceptive conduct if you are the source of information which is said to be misleading or deceptive.
9. Give a definition to the term ‘good title'.
‘Good title' – is an actual legal title that is valid and free from defects such as liens (ïðàâî íàëîæåíèÿ àðåñòà) , litigation or other encumbrances (áðåìÿ, ïðåïÿòñòâèÿ).
The Sale of goods is largely governed by legislation. Where an aspect of the law is not regulated by legislation, it is governed by the common law or often by general principles of law in non-common law jurisdictions.
The UK – the Sale of Goods Act 1979.
The United Nations Convention on Contracts for the International Sale of Goods Act (The CISG) 1980.
11. Give a definition to the term ‘disclaimer'.
‘Disclaimer' -is the rejection to do smth, to say smth. Generally, the function of a 'disclaimer' is to advise the person to whom it is addressed (before entering the contract) that the disclaiming party does not intend to undertake any duty towards that person. In other words, the aim of a disclaimer is to negate (deny) the existence of a duty of care. Although you can disclaim responsibility for a variety of duties in a contract, you can rarely disclaim responsibility for misleading or deceptive conduct if you are the source of information which is said to be misleading or deceptive.
12. Give a definition to the term ‘vendor'.
Vendor– is not a retailer. It is someone who promotes or exchanges goods or services for money. Subpurchaser, middleman between a customer and supplier. It also can be street seller, who sells wares.
13. Give a definition to the term ‘case brief'.
‘Case brief' - a document or set of documents containing the details about a court case (the summary of the facts and outcome of the case).
14. Give a definition to the term ‘shrink-wrap contract'.
‘Shrink-wrap contract' – is a licence agreement or contractual terms and conditions that appear on the outside packaging of an item. Acceptance by the consumer is confirmed by the opening of the package. Often used in the software industry.
A contract, which circumstances of agreement can be know by customer only after buying.
15. Speak about ‘ROT'.
ROT– retention (óäåðæèâàíèå) of a clause. A clause which states, that the buyer does not own goods, until payment is made.
This clause states that the buyer doesn't own the goods until payment is made. So if the buyer goes out of business before paying for the goods, the supplier can recover the goods.
A well-drafted retention if title clause should include 5 tips:
- written clearly
- include the requirement that the buyer of the goods must store the goods separately from other goods
- include wording to the effect that the buyer agrees that he won't resell the goods until they have been paid for
- include the point what the buyer will do with the goods (purpose)
- Include the issue of recovery of the goods.
Every supplier of goods should include a retention of title clause in their contract terms.
| <== previous lecture | | | next lecture ==> |
| PROBLEMS OF DEVELOPING COUNTRIES IN THE WORLD ECONOMY | | |