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Payment

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sanjeev sharma

manager

25 Points Posted on 01 November 2011

sir i want to know that how i get my bill payment from party, which was due almost 5 month. all material was dispatch through transport we have only recipt of transport slip not bill receiving copy. so, we request you to kindly help me that how i get my money from party. should i file a case on company or is there any qlue to solve this matter. sir,i am facing finincial crises for that reason. if i file a case on company then what is the procedure. pls help me. waiting for your reply

Replies (1)

CMA Shilpa Shinde

COST ACCOUNTANT

217 Points Posted on 02 November 2011

Extracts from Sale of Goods Act, 1930 - VSDatey :- Rights of unpaid seller against the goods - After goods are sold and property is transferred to buyer, the only remedy with seller is to approach Court, if the buyer does not pay. Seller has no right to take forceful possession of goods from buyer, once property in goods is transferred to him. However, the Act gives some rights to seller if his dues are not paid. Suits for breach of the contract - Unpaid seller can exercise his rights to the extent explained above. In addition, seller can exercise following rights in case of breach of contract. Buyer has also rights in case of breach of contract. Measure for compensation and damages – The Sale of Goods Act does not specify how to measure damages. However, since the Act is complimentary to Contract Act, measure of compensation and damages will be as provided in sections 73 and 74 of Contract Act. Also necessary to know Jurisdiction in which transaction taken place.