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Danish Sale Of Goods Act
The Danish Sale of Goods Act ( da, Købeloven; Consolidation Act number 237 of March 28, 2003) lays down various rules of trade between companies (commercial sale) and between companies and consumers (consumer sale). Main points * Overdue delivery or defective goods are considered breaches of contract on the seller's part. * Overdue payment or non-payment are considered main breaches of contract on the buyer's part. * Seller's breach of contract may cause the customer to claim damages, rescind the contract of sale or demand goods delivered to replace the defective ones. * The rules of commercial sale are the most restrictive ones. * Any delay usually makes it possible for the customer to rescind the contract of sale or claim damages (if the goods have to be purchased elsewhere at a higher price). * Defective goods of any kind must immediately be reported to the seller. * The Sale of Goods Act's provisions on defective goods and overdue delivery can be departed from through terms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services, i.e. trading things without the use of money. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and letter of credit, paper money, and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade. In one modern view, trade exists due to specialization and the division of labour, a predominant form of economic activity in which individuals and groups concentrate on a small aspect of production, but use their output in trades for other products ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer
A consumer is a person or a group who intends to order, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. The term most commonly refers to a person who purchases goods and services for personal use. Consumer rights “Consumers, by definition, include us all," said President John F. Kennedy, offering his definition to the United States Congress on March 15, 1962. This speech became the basis for the creation of World Consumer Rights Day, now celebrated on March 15. In his speech : John Fitzgerald Kennedy outlined the integral responsibility to consumers from their respective governments to help exercise consumers' rights, including: *The right to safety: To be protected against the marketing of goods that are hazardous to health or life. *The right to be informed: To be protected against fraudulent, deceitful, or grossly misleading informatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Defect
A product defect is any characteristic of a product which hinders its usability for the purpose for which it was designed and manufactured. Product defects arise most prominently in legal contexts regarding product safety, where the term is applied to "anything that renders the product not reasonably safe".Patricia A. Robinson, ''Writing and Designing Manuals and Warnings'' (2009), p. 234. The field of law that addresses injuries caused by defective products is called ''product liability''. A wide range of circumstances can render a product defective. The product may have a design defect or design flaw, resulting from the product having been poorly designed or tested, so that the design itself yields a product that can not perform its desired function. Even if the design is correct, the product may have a manufacturing defect if it was incorrectly manufactured, for example if the wrong materials are used. A product may also be considered legally defective if it lacks appropriate i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Breach Of Contract
Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s), whether partially or wholly, as described in the contract, or communicates an intent to fail the obligation or otherwise appears not to be able to perform its obligation under the contract. Where there is breach of contract, the resulting damages have to be paid to the aggrieved party by the party breaching the contract. If a contract is rescinded, parties are legally allowed to undo the work unless doing so would directly charge the other party at that exact time. It is important to bear in mind that contract law is not the same from country to country. Each country has its own independent, freestanding law of contract. Therefore, it makes sense ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Damages
At common law, damages are a remedy in the form of a monetary award to be paid to a claimant as compensation for loss or injury. To warrant the award, the claimant must show that a breach of duty has caused foreseeable loss. To be recognised at law, the loss must involve damage to property, or mental or physical injury; pure economic loss is rarely recognised for the award of damages. Compensatory damages are further categorized into special damages, which are economic losses such as loss of earnings, property damage and medical expenses, and general damages, which are non-economic damages such as pain and suffering and emotional distress. Rather than being compensatory, at common law damages may instead be nominal, contemptuous or exemplary. History Among the Saxons, a monetary value called a ''weregild'' was assigned to every human being and every piece of property in the Salic Code. If property was stolen or someone was injured or killed, the guilty person had to pay the wer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Of Sale
A contract of sale, sales contract, sales order, or contract for sale is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent). An obvious ancient practice of exchange, in many common law jurisdictions, it is now governed by statutory law. See commercial law. Contracts of sale involving goods are governed by Article 2 of the Uniform Commercial Code in most jurisdictions in the United States and Canada. However in Quebec, such contracts are governed by the Civil Code of Quebec as a nominate contract in the book on the law of obligations. In some Muslim countries it is governed by sharia (Islamic law); however, many Muslim countries apply other law to contacts (e.g. the Egyptian Civil Code, based on the Napoleonic Code, which beyond its application in Egypt serves as the model for the civil codes of several other Arab states). A contract of sale lays out the te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sale Of Goods Act
Sale of Goods Acts (with variations) regulate the sale of goods in several legal jurisdictions including Malaysia, New Zealand, the United Kingdom and the common law provinces of Canada. The Bill for an Act with this short title will have been known as a Sale of Goods Bill during its passage through Parliament. Sale of Goods Acts may be a generic name either for legislation bearing that short title or for all legislation which relates to the sale of goods. Implied Terms Seller Has the Right to Sell One can only transfer the ownership of a good if they are also the owner. The third party who bought in good faith will be weaker than the claim of the original owner. Description Goods must correspond with their descriptions. If it is not, the seller will face strict liability. For business-to-consumer transactions this term cannot be excluded from the contract, however this term might be excluded in business-to-business transactions. Satisfactory Quality (USA: Warrant of Me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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