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X entered into a contract of sale for purchase of 100 kgs of wheat from Y.But Y delivered only 95 kgs of wheat. X rejected the entire goods. Now the contract is___?
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X entered into a contract of sale for purchase of 100 kgs of wheat fro...
Contract of Sale: Rejection of Goods
When a buyer enters into a contract of sale with a seller, the seller is obligated to deliver the goods as per the agreed terms and conditions. In case the seller fails to deliver the goods or delivers the goods in a quantity or quality that does not meet the buyer's expectations, the buyer has the right to reject the goods as per the provisions of the Sale of Goods Act, 1930.
Scenario
In the given scenario, X entered into a contract of sale with Y for the purchase of 100 kgs of wheat. However, Y delivered only 95 kgs of wheat, which did not meet the agreed quantity. As a result, X rejected the entire goods.
Legal Consequences
The rejection of goods by the buyer has certain legal consequences, which are as follows:
- Termination of Contract: When the buyer rejects the goods, the contract of sale comes to an end. The buyer is no longer bound to accept the goods, and the seller cannot demand payment for the same.
- Refund of Price: The seller is obligated to refund the price paid by the buyer for the rejected goods. This is because the buyer has not received the goods as per the agreed terms and conditions.
- Responsibility of Goods: The responsibility of the goods remains with the seller until they are delivered to the buyer. If the goods are damaged or lost during transit, the seller is liable for the same.
Conclusion
In conclusion, the rejection of goods by the buyer is a legal right that protects the buyer's interest. In case the seller fails to deliver the goods as per the agreed terms and conditions, the buyer can reject the goods and terminate the contract of sale. The seller is obligated to refund the price paid by the buyer and is responsible for the goods until they are delivered to the buyer.
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X entered into a contract of sale for purchase of 100 kgs of wheat from Y.But Y delivered only 95 kgs of wheat. X rejected the entire goods. Now the contract is___?
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X entered into a contract of sale for purchase of 100 kgs of wheat from Y.But Y delivered only 95 kgs of wheat. X rejected the entire goods. Now the contract is___? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about X entered into a contract of sale for purchase of 100 kgs of wheat from Y.But Y delivered only 95 kgs of wheat. X rejected the entire goods. Now the contract is___? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X entered into a contract of sale for purchase of 100 kgs of wheat from Y.But Y delivered only 95 kgs of wheat. X rejected the entire goods. Now the contract is___?.
X entered into a contract of sale for purchase of 100 kgs of wheat from Y.But Y delivered only 95 kgs of wheat. X rejected the entire goods. Now the contract is___? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about X entered into a contract of sale for purchase of 100 kgs of wheat from Y.But Y delivered only 95 kgs of wheat. X rejected the entire goods. Now the contract is___? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X entered into a contract of sale for purchase of 100 kgs of wheat from Y.But Y delivered only 95 kgs of wheat. X rejected the entire goods. Now the contract is___?.
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