In a contract for the sale of goods, the buyer and seller have certain rights and liabilities that are governed by the Sale of Goods Act, 1930. Below are some of the key rights and liabilities of the buyer and seller:
Rights of the Buyer:
- Right to inspect the goods before accepting delivery.
- Right to reject the goods if they do not conform to the contract.
- Right to claim damages if the seller breaches the contract.
- Right to obtain delivery of the goods.
Liabilities of the Buyer:
- Liability to pay the price of the goods as agreed upon in the contract.
- Liability to take delivery of the goods within the agreed time.
Rights of the Seller
- Right to receive the price of the goods as agreed upon in the contract.
- Right to sue the buyer for the price of the goods if the buyer fails to pay.
- Right to stop the goods in transit if the buyer becomes insolvent.
- Right to resell the goods if the buyer breaches the contract.
Liabilities of the Seller
- Liability to deliver the goods as agreed upon in the contract.
- Liability to transfer the title of the goods to the buyer.
- Liability to deliver goods of the agreed quantity and quality.
- Liability to compensate the buyer for any loss suffered due to breach of contract.
It is important for both the buyer and seller to understand their respective rights and liabilities under a contract for the sale of goods.
This can help prevent disputes and ensure that the transaction proceeds smoothly.
If either party breaches the contract, the other party may seek legal recourse to enforce their rights and claim damages.
