Who will pay for the loss ? help

CPT 1706 views 20 replies

hi, please help

A person (A) sells his watch to another person say (B) on sale or return basis. And later on (B) gives his watch to (C) on sale or return basis. C lost the watch. Who will pay for the loss ?

 

 

Replies (20)

I think B is responsible to pay A 

please give me the exact answer

 

I think c because in this question it is not mentioned that who is responsble for whom.....c for b and b for a...c will pay to b and b will pass on to a.(as per me....)

Consignment que .. X send good rs. 50000 y at cost+10% y send it to c 20% of invoice price amount of sale wii be? A-55000 B-68750 C-6600 D-5000

Even though ownership of goods does not pass, there exists a bailee, bailor relationship between A & B and B & C . one of the duties of the bailee, is to take care of the goods given by bailor as much as a prudent man in the same situation takes. As C lost the watch, We could assume that he didn't take proper care of the watch and as such is liable to B who is in turn liable to A for giving the watch to a person who couldn't take proper care of the watch. so Answer is C who will pay to B who will inturn pay to A

Since 50000 is cost price X sends ===> To Y @ ( 50000 + 10 % ) = 55000 

and Y sends ====> To X @ ( 55000 + 20 % ) = 66000

(Note : since Y gets the goods form X at Cost+Mark up == Invoice Price ) so Calculating 20 % on it will be the solution

thaanks alot !!

In sale or return basis, the buyer once does something to acknowledge that he is the owner of the goods the sale is complete. It cannot be returned back. So, in this case both B and C has acted in a way to become owners. So c has to pay to B and B has to pay to A. B's payment is not based on C's payment to him.

Originally posted by : Aravind..

In sale or return basis, the buyer once does something to acknowledge that he is the owner of the goods the sale is complete. It cannot be returned back. So, in this case both B and C has acted in a way to become owners. So c has to pay to B and B has to pay to A. B's payment is not based on C's payment to him.


Truly agree with Arvind

so C is the answer ?

Originally posted by : Aravind..

In sale or return basis, the buyer once does something to acknowledge that he is the owner of the goods the sale is complete. It cannot be returned back. So, in this case both B and C has acted in a way to become owners. So c has to pay to B and B has to pay to A. B's payment is not based on C's payment to him.

Agree with Aravind....

answer kya hai ????

PLEASE NOTE IMPORTANT! THE ANSWER stated by Navin is wrong.

 

THE ACTUAL QUESTION IS 

Consignment que .. X send good rs. 50000 Y at cost+10%

Y send it to C at profit of  20% in SELLING PRICE..

What is the cost of good to C?

A-55000 B-68750 C-6600 D-5000

 

X sends it to Y at 50,000 at cost + 10% = 50,000 + 5,000 = 55,000

Y sends it to C at 20% on selling price..  That is

If selling price is 100, profit is 20, so cost price is 80. so when cost for Y is 55,000, his selling price is

(100/80)*55,000= 68750

 

ANSWER IS B


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