|
Tax India ›› Indian Law ›› Business/Commercial Law ›› Sale Of Goods Act
Buyer's Remedies Against Seller For Breach Of Contract
A buyer also has certain remedies against the seller who commits a breach. These are:
- Suit for Damages for Non-Delivery- When the seller wrongfully neglects or refuses to deliver the goods to the buyer, the buyer may sue the seller for damages for non-delivery. This is in addition to the buyer's right to recover the price, if already paid, in case of non-delivery.
- Suit for price- Where the buyer has paid the price and the goods are not delivered to him, he can recover the amount paid.
- Suit for specific performance- When the goods are specific or ascertained, a buyer may sue the seller for specific performance of the contract and compel him to deliver the same goods. The court orders for specific performance only when the goods are specific or ascertained and an order for damages would not be an adequate remedy. Specific performance is generally allowed where the goods are of special significance or value e.g. a rare paining, a unique piece of jewellery, etc.
- Suit for Breach of Warranty- Where there is a breach of warranty by the seller, or where the buyer elects or is compelled to treat the breach of condition as breach of warranty, the buyer cannot reject the goods. The buyer may,
- set up the breach of warranty in extinction or diminution of the price payable by him, or
- sue the seller for damages for breach of warranty.
- Suit for Damages for Repudiation of contract before Due date-Where the seller repudiates the contract before the date of delivery, the buyer may adopt any of the following two courses of action --
- He may treat the contract as rescinded and sue the seller for damages. This is also known as 'damages for anticipatory breach'. The damages will be assessed according to the prices prevailing on the date of breach.
- He may treat the contract as subsisting and wait till the date of delivery. The contract remains open at the risk and for the benefit of both the parties. If the seller subsequently chooses to perform there shall be no damages otherwise he shall be liable to damages assessed according to the prices on the day stipulated for delivery.
- Suit for interest- The buyer may recover such interest or special damages, as may be recoverable bylaw. He may also recover the money paid where the consideration for the payment of it has failed.
In the absence of a contract to the contrary, the court may award interest, to the buyer, in a suit by him for the refund of the price in a case of a breach on the part of the seller, at such rate as it thinks fit on the amount of the price from the date on which the payment was made.
|
India Tax System
Income Tax
Service Tax
Wealth Tax
Sales Tax
Salary & Perquisites
TDS
Gift Tax
Capital Gains
Retirement Benefits
Housing Property
Partnership Firms
Trusts
VAT In India
Indian Budget 2009-10
Inflation
Corporate Tax in India
Tax Structure in India
Tax Planning for 2010
|
Investment In India
Savings Schemes In India
Mutual Funds
Insurance
FDI in India
Derivatives
Portfolio Management Services
ULIPs or Mutual Funds
Financial Planning Process
Risk and Return Analysis
Financial Instruments for Tax Saving
Estate Planning
Hedge Funds
Emerging Investment Avenues
Equity and Equity Capital
Investment in Art
Investments in Global Markets
Options Trading
Measures for Security and Portfolio Analysis
ULIP
ETF
Current Accounts
Working Capital
NRI Investments
Online Trading
Forex Trading
Day Trading
Types of Banks
Introduction to Depositories
Value and Growth Investing
Stock and Commodity Trading
|
Finance & Economy In India
Capital Market
Foreign Exchange Market
Fundamental Analysis
Money Market
Reserve Bank of India
Stock Markets
Technical Analysis
Economic Policies
Personal Finance
Corporate Finance
Economy of India
GDP India
Credit Crisis
Financial Ratios
Anti Money Laundering
Regulatory Environment
Financial Intermediaries
Securities and Exchange Board of India
Insurance Regulatory and Development Authority
Money and Its Importance
|
Banking
Role of Banks
Automated Teller Machine
Branch Banking
Internet Banking
Phone Banking and Mobile Banking
Banks as Financial Intermediaries
Demat Account
Demand Deposits
Term Deposits
Retail Loans
Investment Banking
|
Indian Law
Indian Law
Other Indian Links
Education in India
Indian History
Jobs in India
|