Seller - Law Dictionary Search Results
Home Dictionary Name: seller Page: 2Layaway
Layaway, means an agreement between a retail seller and a consumer to hold goods for future sale. The seller sets the goods aside and agrees to sell them to the consumer at an agreed price in the future. The consumer deposits with the seller some portion of the price of the goods, and may agree to other conditions with the seller, such as progress payments. The consumer receives the goods once the full purchase price has been paid, Black's Law Dictionary, 7th Edn., p. 895...
Market overt
Market overt, an open or public market. Contracts of sale which transfer the property as against a real owner though not the seller are binding, if made according to the following rules.--(1)The sale must be in a place that is open, so that anyone who passes may see it, and that is proper for the sale of such goods; (2) it must be an actual sale for a valuable consideration; (3) the buyer must not know that the seller has a wrongful possession of the goods sold; (4) the sale must no tbe fradulent between two to bar a third person of his right; (5) there must be a sale and a contract by persons able to contract; (6) the contract must be originally and wholly in the market overt; (7) toll ought to be paid where required by statute; (8) the sale ought not to be in the night, though, if the sale be made in the night, it may bind the parties, The Case of Market Overt, 5 Rep 83; and see Hargreave v. Spink, (1892) 1 QB 25; and Ardath Tobacco Co. Ltd. v. Ocker, 1930 TLR 177, distinguishing a s...
Latent defect
Latent defect. A defect which could not previously to an accident have been avoided by care or discovered by reasonable examination. A carrier of passengers is not liable for injury to them arising from a latent defect in his coach, Redhead v. Midland Ry. Co., (1869) LR 4 QB 379. Upon sale of goods, the seller will be answerable for a latent defect if the buyer expressly or by implication makes known to the seller the particular purpose for which the goods are required so as to show that the buyer relies on the seller's skill or judgment (Sale of Goods Act, 1893 (56 & 57 Vict. c. 71), s. 14. See Frost v. Aylesbury Dairy Co., (1905) 1 KB 608....
Salary or wages
Salary or wages, means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living), but does not include--(i) any other allowance which the employee is for the time being entitled to;(ii) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of foodgrains or other articles.(iii) any travelling concession;(iv) any bonus (including incentive, production and attendance bonus);(v) any contribution paid or payable by the employer to any pension fund or provident fund or for the benefit of the employee under any law for t...
Purchase price
Purchase price, means the amount of valuable consideration paid or payable by a person for any purchase made including any sum charged for anything done by the seller in respect of the goods at the time of or before delivery thereof, other than the cost of insurance for transit or of installation, when such cost is separately charged. [The Maharashtra Value Added Tax Act, 2002, s. 2(20)]Means the amount of valuable consideration paid or payable by a person for any purchase made including the amount of duties levied or leviable under the Central Excise Tariff Act, 1985 (5 of 1986) or the Customs Act, 1962 (52 of 1962) and any sum charged for anything done by the seller in respect of the goods at the time of or before delivery thereof, other than the cost of insurance for transit or of installation, when such cost is separately charged and includes--(a) in relation to:(i) the transfer, otherwise than in pursuance of a contract, of property in any goods,(ii) the supply of goods by any uni...
Poison
Poison (poison, Fr.; fr. potio, Lat., a drink--applied originally to a medicated drink or draught].The administration of poison or other destructive thing, if done with intent to commit murder, is a felony, punishable with penal servitude for life, or any term not exceeding three years, or with imprisonment for any term not exceeding two years [(English) Offences against the Person Act, 1861, s. 11], and so is the attempt to administer with like intent, whether bodily injury be effected or not (s. 14).On a trial for murder of A, by poisoning, evidence of a subsequent poisoning of other persons is admissible against the prisoner, Reg. v. Geering, (1849) 18 LJMC 215; Rex v. Armstrong, (1922) 38 TLR 631; as also of antecedent poisoning, Reg. v. Garner, (1863) 3 F&F 681.Unlawful and malicious administering of poison so as to endanger life or to inflict grievous bodily harm is a felony, punishable by penal servitude up to ten years, or imprisonment; and such adminis-tration with intent to i...
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 of Goods Act, 1893, by which 'subject to the provision of this Act and of any statute in that behalf' (as e.g., the (English) Fertilisers and Feeding Stuffs Act, 1926 (16 & 17 Geo. 5, c. 45), s. 1), 'there is no implied warranty or condition as to the quality or fitness for any particular purpose of goods supplied under a contract of sale,' except (1) on a purchase in reliance on the seller's skill; or (2) on a purchase by description from a seller who deals in goods of that description, in which case there is an implied warranty that the goods shall be of merchantable quality; or (3) by usage of trade.As to the implied condition of the right of a seller to sell the goods, see s. 12, ibid....
Commercial letters of credit
Commercial letters of credit, commercial letters of credit may be issued at the instance of a buyer in favour of a seller in the same or another country, in which latter case they are called import credits; or they may be issued at the instance of seller, when they are called export credits, the seller drawing on his own banker or at any rate a banker in his own country, Halsbury's Laws of England, Vol. 3(1), para 253, p. 210....
Breach of warrantee
Breach of warrantee, means a breach by a seller of the terms of a warrantee (as by the failure of the goods to confirm to the seller's description or by a defect in title); A seller may be liable for a breach of warrantee even without any negligence or misconduct; failure without excuse or justification to fulfil one's obligations under a contract - called also breach of contract, Webster's Dictionary of Law, Indian Edn. (2005), p. 59.Means a breach of an express or implied warrantee relating to the title, quality, content, or condition of goods sold, Black Law Dictionary, 7th Edn., p. 183....
redhibitory defect
redhibitory defect in the civil law of Louisiana : a defect that renders a thing useless or so diminishes its usefulness or value that it must be presumed that the buyer would not have bought it or would have paid a lesser price if aware of the defect [a seller is deemed to know that the thing he sells has a redhibitory defect when he is a manufacturer of that thing "Louisiana Civil Code"] called also redhibitory vice NOTE: A seller that knows of a redhibitory defect but omits to declare it, or that declares the thing to have a quality he or she knows it does not, is liable for return of the purchase price with interest and for damages, other expenses, and reasonable attorney's fees. The seller may, however, be allowed credit for value resulting from the use or fruits of the thing. ...
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