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Law for business - Essay Example

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Summary
M/s Toys4U Ltd, a medium sized toy retailer in London run by three directors namely Don, Edwardo and Francesca, telephonically confirmed for purchase of ten toys ‘Polaris missiles’ from M/s Megastores on 1st March, 2010. Two days later, Toys4U received only eight toys, while…
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Law for business
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Law for business

Download file to see previous pages... Sharma for injury of her son.
In business transactions there are certain terms and conditions which are eithor clearly mentioned at the time of making the contract or these might be implied be the law. When these conditions are express and are not otherwise contradictory to the legal provisions enacted in the country, these conditions are legal and are liable to be upheld by the court of law. However, these conditions are not express in the contract. Here a question raises that if there is no expressly defined contract between the buyer and the seller, then how a buyer can protect his rights? This gap is filled by some implied conditions in form of implied warranties and guarentees in any sale of goods. These implied terms are important because it is not always possible to enter into a written contract everytime, when thre is a sale. warranty of fitness for a particular purpos is one of these warranties.
As per Section 14 (2) of Sales of Goods Act 19791, (Sales of Goods Act, 1979) the seller sells goods in the course of a business, there is an implied term that the goods supplied under the contract are of satisfactory quality and for the purpose of its usage. Section (2) (b) speaks of the satisfactory quality of goods including their state and condition including its appearance and finishing, safety, freedom from defects and durability etc. However, there is no requirement for satisfactory quality if attention of the buyer is drawn before finalizing of contract or if buyer examines the goods for defects beforehand/prior to making contract.
As per Section 2 of Consumer Protection Act 19872, (Consumer Protection Act, 1987) if damage is caused, wholly or partly, by defect in the product, the producer of the product and the person who imported or supplied the product shall be liable for damage.
Similarly, as per judgment in (KG ...Download file to see next pagesRead More
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