A contract of sale of goods is a legal agreement where a seller transfers or agrees to transfer goods to a buyer for money, called the price. It is commonly used in business and trade to ensure fair and clear transactions. Laws like the Sale of Goods Act, 1930 govern such contracts and protect the … Read more
A finder of lost goods is a person who discovers and takes possession of items that do not belong to them but appear to have been lost or misplaced by their rightful owner. The role of a finder is significant in balancing personal responsibility with legal and ethical considerations. Laws regarding the rights and duties … Read more
Caveat Emptor (Let the Buyer Beware) The Latin term “Caveat Emptor” means “let the buyer beware.” It is a principle of commerce where the buyer is responsible for assessing the quality and suitability of a product before purchasing it. Concept: This doctrine emphasizes that the seller is not obligated to disclose all the details about … Read more
Foreign trade refers to the exchange of goods and services between countries. It helps nations access resources, technologies, and markets that are not available within their borders. The current issues in Nepal’s foreign trade are as follows: Current issues in Nepal’s foreign trade i. Landlocked Country: Nepal has no access to the sea, so it … Read more
IMPLIED CONDITION 1. Condition as to Title Implied condition as to title as in “the case of a sale, he has a right to sell the goods, and in the case of an agreement to sell, he will have a right to sell the goods at the time when the property is to pass.”This means … Read more
A seller becomes unpaid seller when he/ she fails to get the whole payment from the buyer in time or when the bank dishonors the negotiable instrument received by him for payment. Rights of an Unpaid Seller Against the Buyer Personally Rights of an Unpaid Seller Against the Goods These rights help the unpaid seller … Read more
Unpaid Seller A seller becomes unpaid seller when he/ she fails to get the whole payment from the buyer in time or when the bank dishonors the negotiable instrument received by him for payment. The Contract Act, 2056 has not defined the term unpaid selller. Section 45(2) of Indian Sale of goods Act, 1930 has … Read more
Business law is a section of code that is involved in protecting liberties and rights, maintaining orders, resolving disputes, and establishing standards for the business concerns in their dealings with government agencies and individuals. It also regulates the transactions and relations for business organizations. Similarly, it defines the responsibility of the business concerns to know … Read more
A court system is a network of courts that deal with legal cases and disputes. Its job is to interpret laws, deliver justice, and settle disagreements between individuals, groups, or the government. Courts are usually organized into different levels, like lower courts, higher courts, and special courts, based on the type and complexity of the … Read more
Generally, the law has a two-fold nature: substantive and procedural. One without another is immaterial. They coincide with one another. Their close relation makes the law valuable. a. Substantive Law:Substantive law is based on legal principles and is related to the subject matter and motive of the law. It is real and actual law. It … Read more