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In contracts of sale of movable properties, time is:
- a)Presumed to be the essence of the contract
- b)No presumption as to time can be raised
- c)Not presumed to be the essence of the contract
- d)All of the above
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
In contracts of sale of movable properties, time is:a)Presumed to be t...
In the case of sale of immovable property there is no presumption as to time being the essence of the contract. Even if it is not of the essence of the contract, the Court may infer that it is to be performed in a reasonable time if the conditions are (evident?) :
(1) from the express terms of the contract;
(2) from the nature of the property; and
(3) from the surrounding circumstances, for example, the object of making the contract.”
(1) from the express terms of the contract;
(2) from the nature of the property; and
(3) from the surrounding circumstances, for example, the object of making the contract.”
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In contracts of sale of movable properties, time is:a)Presumed to be t...
Explanation:
In contracts of sale of movable properties, time is presumed to be the essence of the contract. This means that the delivery of goods must be made on the exact date specified in the contract, and any delay in delivery can be considered a breach of contract. The importance of time in such contracts is highlighted by Section 11 of the Sale of Goods Act, 1930, which states that "unless a different intention appears from the terms of the contract, stipulations as to time of payment are deemed to be of the essence of a contract of sale."
Implications:
As time is presumed to be the essence of the contract of sale of movable properties, the following implications arise:
Therefore, in contracts of sale of movable properties, time is a crucial element that must be respected by both parties. Any delay in delivery or payment can have serious consequences for the breaching party.
In contracts of sale of movable properties, time is presumed to be the essence of the contract. This means that the delivery of goods must be made on the exact date specified in the contract, and any delay in delivery can be considered a breach of contract. The importance of time in such contracts is highlighted by Section 11 of the Sale of Goods Act, 1930, which states that "unless a different intention appears from the terms of the contract, stipulations as to time of payment are deemed to be of the essence of a contract of sale."
Implications:
As time is presumed to be the essence of the contract of sale of movable properties, the following implications arise:
- The seller must deliver the goods on the exact date specified in the contract.
- If the seller fails to deliver the goods on time, the buyer can reject the goods and terminate the contract.
- If the buyer fails to pay on time, the seller can terminate the contract and claim damages.
- The parties can agree to waive the importance of time in the contract, but such an intention must be clearly stated in the contract.
Therefore, in contracts of sale of movable properties, time is a crucial element that must be respected by both parties. Any delay in delivery or payment can have serious consequences for the breaching party.
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In contracts of sale of movable properties, time is:a)Presumed to be the essence of the contractb)No presumption as to time can be raisedc)Not presumed to be the essence of the contractd)All of the aboveCorrect answer is option 'A'. Can you explain this answer?
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