Introduction to Business Law

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Business law
LAW OF CARRIAGE:-
Defination of law of carriage:
Law of carriage means carrying goods from one place to another against the price. It is the branch of business. Carriage is the basis for the management and operation of business successfully and effectively. It is the factor of business activity that helps to mobilize the labor, raw material, and tools and machinery etc. Modern business activity are based on the exchange of goods and transportation of goods from one place to another.
According to section 65 of Nepal contract act.2056 ,”a contract is related to carriage shall be deemed to have been concluded, if it provides for transportation of goods from one place to another.”
Classification of carriage: carriage can be
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Specific goods:- specific goods are those which are agreed and identified at the time of contract of sale. ii. Unascertained goods: - unascertained goods are those which are not agreed and identified at the time of contract of sale. These types of goods indicated and defined by description at the time of contract of sale. iii. Ascertained goods: the term ‘ascertained’ is used to those goods; which are ascertained after making the contract of sale. 2. Future goods:- future goods are those goods which are manufactured, produced and acquired by the seller after making the contract of sale. 3. Contingent good: contingent goods are those goods whose acquisition is depend upon the happening and non happening of certain event. i.e., contingent event.
Difference between contract of sale and agreement to sale. Basis of difference | Contract of sale | Agreement to sale. | Ownership of goods | Buyer is said to the real owner | Seller is said to the real owner. | Natue of contract | Executed in nature | Executory in nature | Transfer of risk | Seller can transfer the risk to the buyer in the condition of sale | Seller can’t transfer the risk to the buyer up to the time of contract of sale. | Loss and damages of goods | All the losses and damages are bound by the actual buyer | All the losses and damages are bear by the actual seller. | Right to sell the goods by the seller. | Seller has no right to sell
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