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A stipulation in a contract of sale of goods whose violation by seller gives a right of rescission to buyer, is called:
- a)guarantee.
- b)warranty.
- c)condition.
- d)term.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
A stipulation in a contract of sale of goods whose violation by seller...
Correct answer is C
because conditions are the main elements of contract of sale
if there is repudiation of condition or default in fulfilling the condition mentioned in contract
the BUYER can cancel/rescind the contract.
because conditions are the main elements of contract of sale
if there is repudiation of condition or default in fulfilling the condition mentioned in contract
the BUYER can cancel/rescind the contract.
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A stipulation in a contract of sale of goods whose violation by seller...
Understanding Contract Stipulations
In the context of a contract of sale of goods, various stipulations define the rights and obligations of the parties involved. Among these, conditions, warranties, and guarantees play significant roles.
What is a Condition?
- A condition is a fundamental stipulation in a contract that must be fulfilled for the contract to remain enforceable.
- It is a prerequisite for the performance of the contract, and violation or non-fulfillment of a condition grants the aggrieved party the right to rescind the contract.
Difference Between Condition and Warranty
- While a condition is crucial to the contract’s existence, a warranty is a lesser stipulation.
- Breach of a warranty does not allow for rescission of the contract; instead, it typically leads to a claim for damages.
Implications of Breaching a Condition
- If the seller violates a condition of the sale, the buyer is entitled to rescind the contract.
- This means the buyer can cancel the agreement and seek restitution for any losses incurred due to the breach.
Examples of Conditions
- Conditions can include specifications like the quality of goods, timely delivery, or the legality of the goods being sold.
- For instance, if a buyer purchases goods that are explicitly stated to be new but receives used items instead, the buyer may invoke the right of rescission based on the breach of condition.
In summary, the correct answer to the question is option 'C' because in a sale of goods, a condition is a vital stipulation whose violation allows the buyer to rescind the contract, ensuring protection of their interests.
In the context of a contract of sale of goods, various stipulations define the rights and obligations of the parties involved. Among these, conditions, warranties, and guarantees play significant roles.
What is a Condition?
- A condition is a fundamental stipulation in a contract that must be fulfilled for the contract to remain enforceable.
- It is a prerequisite for the performance of the contract, and violation or non-fulfillment of a condition grants the aggrieved party the right to rescind the contract.
Difference Between Condition and Warranty
- While a condition is crucial to the contract’s existence, a warranty is a lesser stipulation.
- Breach of a warranty does not allow for rescission of the contract; instead, it typically leads to a claim for damages.
Implications of Breaching a Condition
- If the seller violates a condition of the sale, the buyer is entitled to rescind the contract.
- This means the buyer can cancel the agreement and seek restitution for any losses incurred due to the breach.
Examples of Conditions
- Conditions can include specifications like the quality of goods, timely delivery, or the legality of the goods being sold.
- For instance, if a buyer purchases goods that are explicitly stated to be new but receives used items instead, the buyer may invoke the right of rescission based on the breach of condition.
In summary, the correct answer to the question is option 'C' because in a sale of goods, a condition is a vital stipulation whose violation allows the buyer to rescind the contract, ensuring protection of their interests.
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A stipulation in a contract of sale of goods whose violation by seller gives a right of rescission to buyer, is called:a)guarantee.b)warranty.c)condition.d)term.Correct answer is option 'C'. Can you explain this answer?
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A stipulation in a contract of sale of goods whose violation by seller gives a right of rescission to buyer, is called:a)guarantee.b)warranty.c)condition.d)term.Correct answer is option 'C'. Can you explain this answer? for CA CPT 2025 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about A stipulation in a contract of sale of goods whose violation by seller gives a right of rescission to buyer, is called:a)guarantee.b)warranty.c)condition.d)term.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA CPT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A stipulation in a contract of sale of goods whose violation by seller gives a right of rescission to buyer, is called:a)guarantee.b)warranty.c)condition.d)term.Correct answer is option 'C'. Can you explain this answer?.
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