Performance of Contract of Sale
Meaning of Performance: Performance means the delivery of goods by the seller, and acceptance and payment for the same by the buyer. It is mutual. Manner of performance: According to Section 31, 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 contract of sale. Both delivery and payment are concurrent conditions unless otherwise agreed (Sec. 32). The parties have the freedom to determine the time, place and manner of delivery of goods; acceptance of delivery, and payment of price. In case the contracting parties do not make a provision regarding any of these matters in the contract of sale, then the rules of performance as prescribed in the Sale of Goods Act shall apply.
Anti Suit Injunction in Internat
In an interconnected world, businesses are increasingly global. A Barbie doll is touched by hands in at least four countries. The ethylene for its plastic comes from Saudi Arabia, the plastic body is made in Taiwan, the golden nylon hair comes from Japan, the doll itself is assembled and painted in a shop floor in China, and finally, one can find the doll on the shelves of a toy shop in California. This is the extent of the global nature of businesses. In this era of global transfer of goods, international commercial contracts attain much significance. These contracts are the ones that enable the smooth flow of international trade. However, by the inherent international nature of these contracts, there is ambiguity about the jurisdiction of filing suits in case of problems in the execution of the contract. It is often that each party wants to file the suit in the jurisdiction that it deems may award a favourable decision. A way to resolve this is by the use of anti-suit injunctions, which prevents parallel proceedings on the same dispute. The smooth performance and quick resolution of disputes arising is important to facilitate international trade and sustain faith in the existing international trade system.
Auction Sale- In an auction sale, the auctioneer invites bids from prospective buyers and the sale is made to the person who makes the highest bid. The auctioneer may be the seller himself or his authorized agent. Prior to actual auction, wide publicity is given and intending buyers are informed of the time and place of auction. It may be noted that the notice of auction is merely an invitation to the public to make offers. It is not an offer to sell. -LEGAL RULES REGARDING AUCTION SALES (SEC. 64)