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Start Free TrialTransfer of Property Act, 1882 Section 55
Title: Rights and Liabilities of Buyer and Seller
State: Central
Year: 1882
.....on such amount or part1[from the date on which possession has been delivered]. (5) The buyer is bound- (a) to disclose to the seller any fact as to the nature or extent of the seller's interest in the property of which the buyer is aware, but of which he has reason to believe that the seller is not aware, and which materially increases the value of such interest; (b) to pay or tender, at the time and place of completing the sale, the purchase-money to the seller or such person as he directs: provided that, where the property is sold free from encumbrances, the buyer may retain out of the purchase-money the amount of any encumbrances on the property existing at the date of the sale, and shall pay the amount so retained to the persons entitled thereto; (c) where the ownership of the property has passed to the buyer, to bear any loss arising from the destruction, injury or decrease in value of the property not caused by the seller; (d) where the ownership of the property has passed to the buyer, as between himself and the seller, to pay all public charges and rent which may become payable in respect of the property, the principal moneys due on any encumbrances.....
View Complete Act List Judgments citing this sectionSale of Goods Act, 1930 Section 53
Title: Effect of Sub-sale or Pledge by Buyer
State: Central
Year: 1930
(1) Subject to the provisions of this Act, the unpaid seller's right of lien or stoppage in transit is not affected by any sale or other disposition of the goods which the buyer may have made, unless the seller has assented thereto: Provided that where a document of title to goods has been issued, or lawfully transferred to any person as buyer or owner of the goods, and that person transfers the document to a person who takes the document in good faith and for consideration, then, if such last mentioned transfer was by way of sale, the unpaid seller's right of lien or stoppage in transit is defeated, and, if such last mentioned transfer was by way of pledge or other disposition for value, the unpaid seller's right of lien or stoppage in transit can only be exercised subject to the rights of the transferee. (2) Where the transfer is by way of pledge, the unpaid seller may require the pledgee to have the amount secured by the pledge satisfied in the first instance, as far as possible, out of any other goods or securities of the buyer in the hands of the pledgee and available against the buyer.
View Complete Act List Judgments citing this sectionInterest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Section 3
Title: Liability of Buyer to Make Payment
State: Central
Year: 1993
Section 3 - Liability of buyer to make payment Where any supplier supplies any goods or renders any services to any buyer, the buyer shall make payment therefor on or before the date agreed upon between him and the supplier in writing or, where there is no agreement in this behalf before the appointed day: 1 [Providedthat in no case the period agreed upon between the supplier and the buyer in writing shall exceed one hundred and twenty days from the day of acceptance or the day of deemed acceptance.] ______________________ 1. Inserted by Act 23 of 1998, sec. 3(w.e.f. 10-8-1998).
View Complete Act List Judgments citing this sectionMicro, Small and Medium Enterprises Development Act, 2006 Section 15
Title: Liability of Buyer to Make Payment
State: Central
Year: 2006
Where any supplier, supplies any goods or renders anyservices to any buyer, the buyer shall make payment therefor on or before thedate agreed upon between him and the supplier in writing or, where there is noagreement in this behalf, before the appointed day: Provided that in no case the period agreed upon between thesupplier and the buyer in writing shall exceed forty-five days from the day ofacceptance or the day of deemed acceptance.
View Complete Act List Judgments citing this sectionSALE OF GOODS ACT, 1930 Section 41
Title: Buyer's right of examining the goods
State: Central
Year: 1930
(1) Where goods are delivered to the buyer which he has not previously examined, he is not deemed to have accepted them unless and until he has had a reasonable opportunity of examining them for the purpose of ascertaining whether they are in conformity with the contract. (2) Unless otherwise agreed, when the seller tenders delivery of goods to the buyer, he is bound, on request, to afford the buyer a reasonable opportunity of examining the goods for the purpose of ascertaining whether they are in conformity with the contract.
View Complete Act List Judgments citing this sectionSale of Goods Act, 1930 Section 44
Title: Liability of Buyer for Neglecting or Refusing Delivery of Goods
State: Central
Year: 1930
When the seller is ready and willing to deliver the goods and requests the buyer to take delivery, and the buyer does not within a reasonable time after such request take delivery of the goods, he is liable to the seller for any loss occasioned by his neglect or refusal to take delivery and also for a reasonable charge for the care and custody of the goods: Provided that nothing in this section shall affect the rights of the seller where the neglect or refusal of the buyer to take delivery amounts to a repudiation of the contract.
View Complete Act List Judgments citing this sectionLevy Sugar Price Equalisation Fund Act, 1976 Section 6
Title: Right of Buyer to Claim Refund
State: Central
Year: 1976
.....on the incidence of such excess over the controlled or fair price of levy sugar to any other person as part of the price of any product in the manufacture of which such sugar has been used or, as the case may be, to the consumer by whom the price of such sugar was paid. ] (2) Every application for refund under sub- section (1) shall be made to the Central Government within six months from the date on which the excess realisation, in relation to which such refund is claimed, is credited to the Fund, and every such application shall be in such form as may be prescribed and shall be accompanied by such documentary or other evidence as the applicant may furnish to establish that the excess realisation, in relation to which such refund is claimed, was made from him. (3) The Central Government shall, if satisfied, on a scrutiny of the claim made under sub- section (1), that an excess realisation was made from the claimant, direct that refund be made from the Fund to the claimant to the extent of the2[excess realisation made from him together with interest (if any) thereon credited to the Fund]: Provided that if the amount standing to the credit of the Fund is not sufficient to.....
View Complete Act List Judgments citing this sectionCentral Excise Act, 1944 Section 11D
Title: Duties of Excise Collected from the Buyer to Be Deposited with the Central Government
State: Central
Year: 1944
.....anything to the contrary contained in any order or direction of the Appellate Tribunal or any Court or in any other provision of this Act or the rules made thereunder,2[every person who is liable to pay duty under this Act or the rules made thereunder, and has collected any amount in excess of the duty assessed or determined and paid on any excisable goods under this Act or the rules made thereunder from the buyer of such goods in any manner as representing duty of excise, shall forthwith pay the amount so collected to the credit of the Central Government. 4[(1A) Every person, who has collected any amount in excess of the duty assessed or determined and paid on any excisable goods or has collected any amount as representing duty of excise on any excisable goods which are wholly exempt or are chargeable to nil rate of duty from any person in any manner, shall forthwith pay the amount so collected to the credit of the Central Government.] 3[(2) Where any amount is required to be paid to the credit of the Central Government under 5[sub-section (1) or sub-section (1A), as the case may be,] and which has not been so paid, the Central Excise Officer may serve,.....
View Complete Act List Judgments citing this sectionInterest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Section 5
Title: Liability of Buyer to Pay Compound Interest
State: Central
Year: 1993
Notwithstanding anything contained in any agreement between a supplier and a buyer or in any law for the lime being in force, the buyer shall be liable to pay compound interest (with monthly rests) at the rate mentioned in section 4 on the amount due to the supplier.
View Complete Act List Judgments citing this sectionSale of Goods Act, 1930 Section 31
Title: Duties of Seller and Buyer
State: Central
Year: 1930
It is the duty of the seller to deliver the goods and of the buyer to accept and pay for them, in accordance with the terms of the contract of sale.
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