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Factor
Factor [fr. facteur, Fr.], a substitute in mercantile affairs; an agent employed to sell goods or merchandise consigned or delivered to him by or for his principal, for a compensation commonly called factorage
Reason to believe
Reason to believe, does not mean a purely subjective satisfaction. The belief must be held in good faith; it cannot be merely a pretence, S. Narayanappa v. CIT, Bangalore, AIR 1967 SC 523: (1967) 65
Contract for work or service contract for sale of goods
Contract for work or service contract for sale of goods, the primary difference between a 'contract for work or service' and a 'contract for sale of goods' is
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Caveat emptor
Caveat emptor. Hob. 99.--(Let the purchaser beware.) The rule of 'caveat emptor' as to purchase of goods and animals with its existing modifications was thrown into statutory shape by s. 14 of the (English) Sale
Merchantable
Merchantable, marketable. 'Where goods are bought by description from a seller who deals in goods of that description (whether he be the
Larceny
Law, or plain theft. To constitute the offence there must be an unlawful taking, which implies that the goods must pass from the possession of a true owner (including one who has a qualified property only in
Interpleader
expects to be sued by two or more parties, claim-ing adversely to each other, for a debt or goods in his hands, but in which he himself has no interest, obtains relief by procuring such parties to
Pecuniary advantage
wide amplitude but even so in the context of s. 5(1)(d) of Prevention of Corruption Act, 1947, obtaining goods on credit cannot be held to amount to obtaining pecuniary advantage. If there is an agreement between the
Sale or return
Sale or return. By s. 18, Rule 4, of the Sale of Goods Act, 1893, supra:- When goods are delivered to the buyer on approval or 'on sale or return' or
No cause for such refusal
for such refusal, the expression 'no cause for such refusal' within the meaning of clause (4) must mean no good cause for refusal. Therefore when an application is filed by a shareholder for an order directing the company
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