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Niket Sinha (CA CS Student B.Com-II)     25 May 2011

Mercantile law doubts

hi frnds..!!

can u pls help me out wid following doubts of mine..??

 

1. contract of sale is:-

a. executed contract

b. executory contract

c. both 

d. none

 

2. when property in goods has not passed, the unpaid seller has a right of:-

a. with holding delivery

b. stoppage in transit

c. both 

d. none

 

3. A delivers two suit lengths to B, a renowned seller to switch winter suit for him, with the instruction to return the suit after stitching. This is a case of:-

a. agreement to sale

b. bailment

c. pledge

d. none

 

plzz answer to these questions and i'll be really glad if u give explanations to above questions as well...!!



 4 Replies

Sasanka Bhalaki

Sasanka Bhalaki (Student)     25 May 2011

For first contract of sale it is Executory contract..because there is both side of liability to fulfill work..

in the second case i think both can be done..i mean stopage in trasist and withholding..

and coming to third case it is bailment..

mridul savio Pinto

mridul savio Pinto (articled trainee )     25 May 2011

CONTRACT OF SALE IS BOTH EXECUTED AS WELL AS EXECUTORY .... THIS IS BASICALLY BECAUSE .IN A CONTRACT OF SALE IS EXECUTED BUT IT INCLUDES AGREEMENT TO SALE WHICH IS EXECUTORY ....... SO THE ANSWER IS BOTH ....

2) RIGHT TO STOPPAGE IN TRANSIT ... CAN BE INVOKED .. ONLY WHEN THE BUYER HAS BECOME INSOLVENT .......RIGHT OF LIEN ... CAN ALSO BE INVOKED ...(BOTH )

3)BAILMENT : IF HE HAD DELIVERED TWO SUIT LENGHTS .. TO STICH HIM A NEW WINTER SUIT .. & WITH THE INSTRUCTION TO RETURN TWO SUTIT LENGHTS AFTER STICHING SUIT .... THEN IT BECOMES A BAILMENT BECAUSE THE GOODS ARE DELIVERE FOR SPECIFIC PURPOSE UNDER A CONTRACT .. WITH A CONDITION TO RETURN ... THEN IT BECOMES BAILMENT ..

IF HE HAD ASKED TO RETURN THE MERE WINTER SUIT AFTER STICHING IT BECOMES AN AGREEMENT TO SALE ... UR QUESTION (3) IS SOME WHAT NOT CLEAR

ALL THE BEST

2 Like
Umesh Daga

Umesh Daga (Student)     25 May 2011

Niket,

 I am not sure about the first answer but it should be Executory Contract bcoz both the parties have the liability.

For the second and third answer I totally agree with Mridul and think the same way....

Niket Sinha

Niket Sinha (CA CS Student B.Com-II)     26 May 2011

thank u guys for ur immediate response. my querries are now sorted..


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