Sale Or Return - Law Dictionary Search Results
Home Dictionary Name: sale or return Page 1 of about 48 results (0.004 seconds)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 other similar terms [e.g., on trial: Elphick v. Barnes, (1880) 5 CPD 326] the property therein passes to the buyer:-(a) When he signifies his approval or acceptance to the seller or does any other act adopting the trans-action:As to the meaning of adopting the transaction, see London Jewellers Ltd. v. Atten-borough, (1934) 2 KB 206.(b) If he does not signify his approval or acceptance to the seller but retains the goods without giving notice of rejection, then, if a time has been fixed for the return of the goods, on the expiration of such time, and, if no time has been fixed, on the expiration of a reasonable time. what is a reasonable time is a question of fact....
sale or return
sale or return see sale ...
sale
sale 1 a : the transfer of title to property from one party to another for a price ;also : the contract of such a transaction see also short compare barter, donation, exchange, gift absolute sale : a sale that takes place without conditions and with title simply passing to the buyer upon payment of the price compare conditional sale in this entry bulk sale : a sale not in the ordinary course of the seller's business of more than half of the seller's inventory called also bulk transfer NOTE: Article 6 of the Uniform Commercial Code governs bulk sales. Under section 6-102(c), in order for a sale to be considered a bulk sale, the buyer (or an auctioneer or liquidator if the sale is an auction) must have been given notice or been able upon reasonable inquiry to have had notice that the seller will not afterward continue to operate the same or a similar kind of business. cash sale : a sale in which payment must be made in cash NOTE: Under U.C.C. section 2-310, payment must be made ...
Turnover of sales
Turnover of sales, in relation to any period, means the aggregate of the sale prices or parts of sale-prices received or receivable by a dealer in respect of sales of goods made during such period after deducting therefrom the amounts, if any, refunded by the dealer in respect of any such goods returned or rejected by the purchaser within three months from date of delivery of such goods. [West Bengal Value Added Tax Act, 2003, s. 2(55)]Means the aggregate of the amounts of sale price received and receivable by a dealer in respect of any sale of goods made during a given period after deducting the amount of sale price, if any, refunded by the dealer to purchaser, in respect of any goods purchased and returned by the purchaser within the prescribed period. [Gujarat Value Added Tax Act, 2003, s. 2(33)]Means the aggregate of the amounts of sale price received and receivable by a dealer in respect of any sale of goods made during a given period after deducing the amount of:(a) sale price, i...
Sale of Goods Act, 1893
Sale of Goods Act, 1893 (English) (56 & 57 Vict. c. 71), codifying the law of the sale of goods, in the same fashion as the law of bills of exchange, promissory notes, and cheques was codified (see CODE) by the Bills of Exchange Act, 1882, and the law of partnership by the (English) Partnership Act, 1890.The parts of the Act are:-I. Formation of the Contact, in which it is provided, amongst other things, that an infant or person by mental incapacity or drunkenness incompetentto contract must pay a reasonable price for 'necessaries' sold and delivered to him; that (re-enacting a part of the Statute of Frauds) a contract for the sale of goods of the value of 10l. or more is not enforceable unless the buyer accept and receive part, or give something in earnest to bind the contract, or 'unless some note or memorandum in writing of the contract be made and signed by the party to be charged or his agent in that behalf'; that a contract for the sale of specific goods which have perished witho...
Contract for sale
Contract for sale. A sale implies a consideration in money or money's worth in return for the thing sold and consequently consideration is an integral part of a contract for sale. The legal incidents of a contract for sale of goods have been embodied and codified in the Sale of Goods Act, 1893. See SALE....
ABC transaction
ABC transaction, is a sale of a working interest from an owner (A) to an operator, (B) in return for a cash payment and the right to another payment when he well produces, followed by A's sale of right to the production payment to corporation (C) which pays A in cash borrowed from a lender on C's pledge of the production payment, Black Law Dictionary, 7th Edn., p. 3....
False return
False return by sheriff on nulla bona to writ of fi. fa, after levying is actionable; for form of claim, see Bullen and Leake, Prec. Of Pl.A process server's or other court officials recorded misrepresentation that process was served, that some other action was taken, or that something is true, Black's Law Dictionary, 7th Edn., p. 619.A return cannot be said to be 'false' unless there is an element of deliberations in it. It is possible that even where the incorrectness of the return is claimed to be due to want of care on the part of the assessee and there is no reasonable explanation forthcoming from the assessee for such want of care, the Court may, in a given case, infer deliberations and the return may be liable to be branded as a false return. But where the assessee does not include a particular item in the taxable turnover under a bona fide belief that he is not liable so to include it, it would not be right to condemn the return as a 'false' return inviting imposition of penalt...
Deposit
Deposit, money paid to a person as an earnest or security for the performance of some contract, especially a contract for the sale of real estate. Also a naked bailment of goods to be kept for the bailor without recompense, and to be returned when the bailor shall require it. The appellation and the definition are both derived from the civil law. Depositum est quod custodiendum alicui datum est. It is, in the civil law, divisible into two kinds: (1) necessary, made upon some sudden emergency, and from some pressing necessity; as, for instance, in case of a fire, a shipwreck, or other overwhelming calamity, when property is confided to any person whom the depositor may meet without proper opportunity for reflection or choice, and thence it is called miserabile depositum; (2) voluntary, which arises from the mere consent and agreement of the parties. the Common Law has made no such division. There is another class of deposits, called involuntary, which may be without the assent or even k...
Sanjaiti contract
Sanjaiti contract, means Sanjaiti or Sanjait contract is one under which the goods are removed from one shop and are deposited in another, not under any sale but under an arrangement that the recipient will be at liberty to sell the goods or return the same if not sold. The commercial practice of Sanjait supply of goods does not bring about sale upon delivery, nor do goods pass to the acceptor extinguishing title of dispatcher. It is a special commercial mode, and though some of the factors alike to sale are present, it does not bring about that result. The relations between the traders is that of factor and factor with obligation of one to hold goods of another in deposit till they are appropriated by sale or to return goods not so appropriated on its already fixed value, Shah Amrutlal Shantilal v. Madhyavarti Sahakari Hatamag Venkar Sangh Ltd., 1977 Mah LJ 842: 1977 Bom 431....
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