PPT - Conditions and Warranties - B Com Notes | EduRev

Business Law

Created by: Universal Academy

B Com : PPT - Conditions and Warranties - B Com Notes | EduRev

 Page 1


CONDITION AND WARRANTY
NEMO DAT QUOD NON HABET AND ITS 
EXCEPTIONS
RIGHTS OF UNPAID SELLER
Page 2


CONDITION AND WARRANTY
NEMO DAT QUOD NON HABET AND ITS 
EXCEPTIONS
RIGHTS OF UNPAID SELLER
WHAT IS A CONDITION
A C O N D I T I O N IS A S T I P U L AT I O N
E S S E N T I A L TO T H E M A I N P U R P O S E OF
T H E C O N T R A C T, B R E A C H OF W H I C H
G I V E S R I S E TO T R E AT T H E C O N T R A C T
AS R E P U D I AT E D OR B R O K E N .
Page 3


CONDITION AND WARRANTY
NEMO DAT QUOD NON HABET AND ITS 
EXCEPTIONS
RIGHTS OF UNPAID SELLER
WHAT IS A CONDITION
A C O N D I T I O N IS A S T I P U L AT I O N
E S S E N T I A L TO T H E M A I N P U R P O S E OF
T H E C O N T R A C T, B R E A C H OF W H I C H
G I V E S R I S E TO T R E AT T H E C O N T R A C T
AS R E P U D I AT E D OR B R O K E N .
WHAT IS WARRANTY
A warranty is a stipulation collateral to the main
purpose of the contract the breach of which gives
rise to claim for damages but not to a right to reject
the goods and could not treat the contract as
repudiated or broken.
Page 4


CONDITION AND WARRANTY
NEMO DAT QUOD NON HABET AND ITS 
EXCEPTIONS
RIGHTS OF UNPAID SELLER
WHAT IS A CONDITION
A C O N D I T I O N IS A S T I P U L AT I O N
E S S E N T I A L TO T H E M A I N P U R P O S E OF
T H E C O N T R A C T, B R E A C H OF W H I C H
G I V E S R I S E TO T R E AT T H E C O N T R A C T
AS R E P U D I AT E D OR B R O K E N .
WHAT IS WARRANTY
A warranty is a stipulation collateral to the main
purpose of the contract the breach of which gives
rise to claim for damages but not to a right to reject
the goods and could not treat the contract as
repudiated or broken.
DIFFERENCE BETWEEN CONDITION AND 
WARRANTY
C O N D I T I O N
Condition is an essential
term or stipulation of the
contract which must be
fulfilled for the
performance of the
contract.
Breach of condition gives
right to the party to reject
the contract and also a
right to claim damages.
Breach of condition may be
treated as breach of
warranty
W A R R A N T Y
Warranty is a collateral or
incidental stipulation to
the main purpose of the
contract.
Breach of warranty does not
gives right to the party to
reject the contract. It only
give right to claim
damages only.
The breach of warranty
cannot be treated as
breach of condition
Page 5


CONDITION AND WARRANTY
NEMO DAT QUOD NON HABET AND ITS 
EXCEPTIONS
RIGHTS OF UNPAID SELLER
WHAT IS A CONDITION
A C O N D I T I O N IS A S T I P U L AT I O N
E S S E N T I A L TO T H E M A I N P U R P O S E OF
T H E C O N T R A C T, B R E A C H OF W H I C H
G I V E S R I S E TO T R E AT T H E C O N T R A C T
AS R E P U D I AT E D OR B R O K E N .
WHAT IS WARRANTY
A warranty is a stipulation collateral to the main
purpose of the contract the breach of which gives
rise to claim for damages but not to a right to reject
the goods and could not treat the contract as
repudiated or broken.
DIFFERENCE BETWEEN CONDITION AND 
WARRANTY
C O N D I T I O N
Condition is an essential
term or stipulation of the
contract which must be
fulfilled for the
performance of the
contract.
Breach of condition gives
right to the party to reject
the contract and also a
right to claim damages.
Breach of condition may be
treated as breach of
warranty
W A R R A N T Y
Warranty is a collateral or
incidental stipulation to
the main purpose of the
contract.
Breach of warranty does not
gives right to the party to
reject the contract. It only
give right to claim
damages only.
The breach of warranty
cannot be treated as
breach of condition
IMPLIED WARRANTY AND CONDITION
A. 1)Condition as to title
There are three implied condition on the part of the
seller regarding title to the goods.
A. In case of a sale, he has a right to sell the goods.
In case of an agreement to sell, the seller will have
a right to sell the goods at the time when the
property is to pass.
B. The buyer shall have and enjoy quiet possession
of the goods
C. Goods shall be free from any charge or
encumbrance
Read More
Offer running on EduRev: Apply code STAYHOME200 to get INR 200 off on our premium plan EduRev Infinity!

Dynamic Test

Content Category

Related Searches

Viva Questions

,

Sample Paper

,

mock tests for examination

,

Objective type Questions

,

Summary

,

PPT - Conditions and Warranties - B Com Notes | EduRev

,

MCQs

,

PPT - Conditions and Warranties - B Com Notes | EduRev

,

Free

,

Exam

,

Previous Year Questions with Solutions

,

ppt

,

shortcuts and tricks

,

Semester Notes

,

PPT - Conditions and Warranties - B Com Notes | EduRev

,

past year papers

,

pdf

,

video lectures

,

Extra Questions

,

study material

,

Important questions

,

practice quizzes

;