Author: Pranav K

Articles

Holder, Holder in Due Course and Holder for Value by Pranav K @LEXCLIQ

HOLDER, HOLDER IN DUE COURSE AND HOLDER FOR VALUE HOLDER: – Every instrument initially belongs to the payee and he is entitled to its possession. The payee can transfer it to any person in payment of his own debt. This transfer is known as negotiation. An instrument may be negotiated in two ways. If the […]

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Articles

Condition and Warranty by Pranav K @LEXCLIQ

CONDITION AND WARRANTY Stipulation or representation in a contract of sale may be either a condition or a warranty depending upon the character and importance of the stipulation. Sale of goods act considers this as a significant part of formation. They imply a promise made by a seller to the buyer with respect to the […]

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Bill of Exchange by Pranav K @LEXCLIQ

BILL OF EXCHANGE Bills of Exchange is an instrument through which its drawer orders the drawee to pay a certain amount of money to, or to the order of a specified person (the payee or the beneficiary) or to the leaver of the instrument, on its presentation or at a fixed date. Section 5 of […]

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Types of Goods by Pranav K @LEXCLIQ

TYPES OF GOODS Goods can be classified as follows: Existing goods, Future Goods and Contingent Goods. Existing goods: – Existing goods are the goods which physically exist and which are owned and/or possessed by the seller at the time of making the contract of sale. Sometimes, the seller may not be the owner (agent) but […]

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Articles

Sale of Goods Act, 1930 by Pranav K @LEXCLIQ

SALE OF GOODS ACT, 1930 Contract or agreements related to the sale of goods are governed under the Sale of Goods Act, 1930. In the beginning Sale or Purchase of goods was governed by the Indian Contract act, a separate act called the Sale of Goods act was established in 1930. Prior to this act, […]

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