Sale of Goods/ consumer protection Flashcards Preview

Business Law > Sale of Goods/ consumer protection > Flashcards

Flashcards in Sale of Goods/ consumer protection Deck (7)
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1

Retention of title clause

If the buyer doesn't pay in full, the seller can keep the possession of the good while the buyer bears the risk

2

Sale of goods
- implied terms (5)

- The seller has the right to sell
- The good must correspond to its description
- The good is of satisfactory quality (meet min. standard)
- The good must be fit for its purpose
- If the good is referenced by a model, it must match it

3

Consumer remedies (goods/services)

- Reject goods & money back (30 days)
- Right to repair/replace (6 months)
- If unsuccessful, price reduction/recejction

4

Define Good

A personal property, not real property (land/building)

5

Excluded as "good" (4)

1. Fixture
2. Money as currency
3. Shares/patents
4. Softwares

6

Types of goods (2)

1. Specific & ascertained
--> identified and agreed upon

2. Unascertained
--> non-unique nor identified at the time of contract

7

Goods and service contracts (4)

1. Sale of goods
2. Sale of services
3. Hire of goods
4. Consumer credit contracts