Bare Act Search Results

Hindu Gains of Learning Act, 1930 Complete Act

State: Central

Year: 1930

.....demoralising influence upon his character by inducing him to have recourse to dishonest subterfuges like benami transactions. Likewise, the present rule is not favourable to the growth of self-reliance among the dependent members of the family. In a rich family, it offers a premium to extravagance, idleness and perpetual discord. Its injustice is manifestly galling. Take, e.g., a case in which a father has three sons and incurs the same expenditure on their education. He sends them all to England to be educated for the 1.C.S. One is successful, the other two fail. Of the two who fail, one takes to trade, the other is unwilling to do any work and remains idle. The trader earns a large fortune, which the present law allows him to keep to himself, because his education in England was for the Civil Service and not for trade. But, out of the earnings of the Civilian, two shares are claimed, one by the trader and the other by the brother who has been idle. The trader keeps his own earnings and also takes a share of the Civilian's earnings. Take again a case in which three brothers are given by their father the same education for the same profession and at the same cost. Though they.....

Sale of Goods Act, 1930 Complete Act

State: Central

Year: 1930

.....identified and agreed upon at the time a contract of sale is made; and (15) expressions used but not defined in this Act and defined in the Contract Act, 1872, have the meanings assigned to them in that Act. Section 3 Application of provisions of Act 9 of 1872 The unrepealed provisions of the Contract Act, 1872, save insofar as they are inconsistent with the express provisions of this Act, shall continue to apply to contracts for the sale of goods. CHAPTER 2 FORMATION OF THE CONTRACT Section 4 Sale and agreement to sell (1) A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another. (2) A contract of sale may be absolute or conditional. (3) Where under a contract of sale the property in the goods is transferred from the seller to the buyer, the contract is called a sale, but where the transfer of the property in the goods is to take place at a future time or subject to some condition thereafter to be fulfilled, the contract is called an agreement to sell. (4) An agreement to sell becomes a sale when the time elapses or.....

Sale of Goods Act, 1930 Chapter II

Title: Formation of the Contract

State: Central

Year: 1930

.....are fulfilled subject to which the property in the goods is to be transferred. Section 5 - Contract of sale how made Formalities of the contract (1) A contract of sale is made by an offer to buy or sell goods for a price and the acceptance of such offer. The contract may provide for the immediate delivery of the goods or immediate payment of the price or both, or for the delivery or payment by instalments, or that the delivery or payment or both shall be postponed. (2) Subject to the provisions of any law for the time being in force, a contract of sale may be made in writing or by word of mouth, or partly in writing and partly by word of mouth or may be implied from the conduct of the parties. Section 6 to 8 - Subject-matter of contract Section 6 - Existing or future goods (1) The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or future goods. (2) There may be a contract for the sale of goods the acquisition of which by the seller depends upon a contingency which may or may not happen. (3) Where by a contract of sale the seller purports to effect a present sale of future goods, the contract.....

Sale of Goods Act, 1930 Chapter IV

Title: Performance of the Contract

State: Central

Year: 1930

.....to be delivered at the place at which they are at the time of the agreement to sell or if not then in existence, at the place at which they are manufactured or produced. (2) Where under the contract of sale the seller is bound to send the goods to the buyer, but no time for sending them is fixed, the seller is bound to send them within a reasonable time. (3) Where the goods at the time of sale are in the possession of a third person, there is no delivery by seller to buyer unless and until such third person acknowledges to the buyer that he holds the goods on his behalf: Provided that nothing in this section shall affect the operation of the issue or transfer of any document of title to goods. (4) Demand or tender of delivery may be treated as ineffectual unless made at a reasonable hour. What is a reasonable hour is a question of fact. (5) Unless otherwise agreed, the expenses of and incidental to putting the goods into a deliverable state shall be borne by the seller. Section 37 - Delivery of wrong quantity (1) Where the seller delivers to the buyer a quantity of goods less than he contracted to sell, the buyer may reject them, but if the buyer accepts the goods.....

The Punjab Regulation of Accounts Act, 1930 Complete Act

State: Punjab

Year: 1930

.....property, whether movable or immoveable, and shall include a wholesale or a retail merchant, a commission agent, a broker, a manufacturer, a contractor, a factory owner, but shall not include a person who sells his own agricultural produce or cattle, or buys agricultural produce or cattle for his own use. 3. Duty of creditor to maintain and furnish accounts,-(1) A creditor shall in order to comply with the provisions of this Act- (a) regularly record and maintain an account for each debtor separately, of all transactions relating to any loan advanced to that debtor, in such manner as the 1[State] Government may prescribe; (b) furnish each debtor every six months with a legible statement of account signed by the creditor or his agent of any balance or amount that may be outstanding against such debtor on the 30th day of June or 15th. Har and the 31st day of December or 15th Poh in each year, This statement of account shall include all transactions relating to the loan entered into during the six months to which the statement relates, and shall be sent, in such manner and in such form and containing such details as the 1[ State] Government may prescribe, on or before the 31st.....

Sale of Goods Act, 1930 Section 6

Title: Existing or Future Goods

State: Central

Year: 1930

(1) The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or future goods. (2) There may be a contract for the sale of goods the acquisition of which by the seller depends upon a contingency which may or may not happen. (3) Where by a contract of sale the seller purports to effect a present sale of future goods, the contract operates as an agreement to sell the goods.

Sale of Goods Act, 1930 Section 9

Title: Ascertainment of Price

State: Central

Year: 1930

(1) The price in a contract of sale may be fixed by the contract or may be left to be fixed in manner thereby agreed or may be determined by the course of dealing between the parties. (2) Where the price is not determined in accordance with the foregoing provisions, the buyer shall pay the seller a reasonable price. What is a reasonable price is a question of fact dependent on the circumstances of each particular case.

Sale of Goods Act, 1930 Section 11

Title: Stipulations as to Time

State: Central

Year: 1930

Unless a different intention appears from the terms of the contract, stipulations as to time of payment are not deemed to be of the essence of a contract of sale. Whether any other stipulation as to time is of the essence of the contract or not depends on the terms of the contract.

Sale of Goods Act, 1930 Section 12

Title: Condition and Warranty

State: Central

Year: 1930

(1) A stipulation in a contract of sale with reference to goods which are the subject thereof may be a condition or a warranty. (2) A condition is a stipulation essential to the main purpose of the contract, the breach of which gives rise to a right to treat the contract as repudiated. (3) A warranty is a stipulation collateral to the main purpose of the contract, the breach of which gives rise to a claim for damages but not to a right to reject the goods and treat the contract as repudiated. (4) Whether a stipulation in a contract of sale is a condition or a warranty depends in each case on the construction of the contract. A stipulation may be a condition, though called a warranty in the contract.

Sale of Goods Act, 1930 Section 36

Title: Rules as to Delivery

State: Central

Year: 1930

.....delivered at the place at which they are at the time of the sale, and goods agreed to be sold are to be delivered at the place at which they are at the time of the agreement to sell or if not then in existence, at the place at which they are manufactured or produced. (2) Where under the contract of sale the seller is bound to send the goods to the buyer, but no time for sending them is fixed, the seller is bound to send them within a reasonable time. (3) Where the goods at the time of sale are in the possession of a third person, there is no delivery by seller to buyer unless and until such third person acknowledges to the buyer that he holds the goods on his behalf: Provided that nothing in this section shall affect the operation of the issue or transfer of any document of title to goods. (4) Demand or tender of delivery may be treated as ineffectual unless made at a reasonable hour. What is a reasonable hour is a question of fact. (5) Unless otherwise agreed, the expenses of and incidental to putting the goods into a deliverable state shall be borne by the seller.