After the humble response to the previous editions, I take the honour in presenting this edition of “Business Law – II” textbook for Semester III for the S.Y. B.Com. students.
This book is prepared keeping in mind the requirements of the students of Semester III, S.Y. B.Com. for external and internal examination as per the Revised Syllabus w.e.f. 2025. Keeping in mind the examination, several problems, case studies on each topic are discussed and explained. This paper is with Sale of Goods Act, 1930 and divided into Four modules.
In the First Module –topic-wise provisions of legal terms and definition and formation of Contract of Sale.
Module Two consists of provisions relating to Conditions and warranties, Caveat Emptor and specific sale transactions.
Module Three consists of provisions relating to Performance of Contract which includes Rules relating to delivery, Buyers and sellers rights and provisions of unpaid seller and its rights.
Module Four consists of provisions relating to Suit for breach of contract, special damages and Exclusion of terms and Auction Sale.
The book is updated with case studies and many current illustrations. The provisions of law are defined and explained in a simplified method for easy understanding of the students. An effort is made to eliminate unnecessary details with concentration on the syllabus. It will help the pupils to understand the role of law in their day-to-day life. Further revised paper pattern, case studies will be an added advantage to get a grip on the study of the subject.
Contents –
MODULE – I : THE SALE OF GOOD ACT FORMATION AND TERMS
1 Formation of Contact of Sale and Terms
1.1 Definition of Important Legal Terms
1.2 Formation of a Contract of Sale
1.3 Distinction between ‘Sale’ and ‘Other Forms of Agreements’
1.3.1 Problems
1.3.2 Case Studies
1.3.3 Questions
2 Effects of Destruction of Goods
2.1 Effects of Destruction of Good
2.2 Modes of Ascertainment of Price
2.2.1 Problems
2.2.2 Case Studies
2.2.3 Questions
MODULE – II: CONDITIONS AND WARRANTIES
3 Conditions and Warranties
3.1 Introduction
3.2 Conditions
3.3 Warranties
3.4 Distinction between ‘Condition’ and ‘Warranty’
3.5 Circumstances Under Which a Condition may be Treated as a Warranty
3.6 Stipulations As to Time
3.7 Remedies Available to the Buyer for Breach of Warranty by the Seller
3.7.1 Problems
3.7.2 Case Studies
3.7.3 Questions
4 Caveat Emptor
4.1 Caveat Emptor
4.2 Exceptions to the Caveat Emptor
4.2.1 Case Studies
4.2.2 Questions
5 Concept of Property and Possession and Risk
5.1 Introduction
5.2 Rules for Transfer of Property
5.3 Risk Prima Facie Passes with Property
5.4 Transfer of Title
5.4.1 Problems/Case Studies
5.4.2 Questions
MODULE – III: PERFORMANCE OF CONTRACT
6 Duties of Buyers and Sellers with Reference to Goods
6.1 Duties of Seller and Buyer
6.2 Consequences of Breach
6.3 Delivery of Goods (Section 33)
6.4 Effects of Part Delivery (Section 34)
6.4.1 Problems
6.4.2 Case Studies
6.4.3 Questions
7 Rules as to Delivery
7.1 Key Interpretations and Principles on Rules as to Delivery
7.2 Instalment of Deliveries
7.3 Risk Where Goods are Delivered at Distant Place (Section 40)
7.3.1 Problems/Case Studies
7.3.2 Questions
8 Buyers Right and Liability
8.1 Introduction
8.2 Buyer’s right to inspect the goods (Section 41)
8.3 Acceptance of Goods
8.4 Three modes of acceptance
8.5 Consequences of acceptance
8.6 Buyer’s right of examination
8.7 Liability of buyer for neglecting or refusing delivery of goods (Section 44)
8.8 Consequences of Buyer’s neglect or refusal
8.8.1 Problems/Case Studies
8.8.2 Questions
MODULE – IV: BREACH OF CONTRACT
9 Rights of an Unpaid Seller
9.1 Definition of Unpaid Seller
9.2 Rights of An Unpaid Seller
9.3 Effects of Sub-sale or Pledge by Buyer (Section 33)
9.3.1 Problems
9.3.2 Case Studies
9.3.3 Questions
10 Suits for Breach of Contract
10.1 Introduction
10.2 Buyer’s Remedies Against the Seller (Sections 57 – 61)
10.2.1 Problems/Case Studies
10.2.2 Questions
11. Special Damages and Auction Sales
11.1 Special Damages
11.2 Exclusion of Special Terms and
Conditions Auction Sales (Section 62)
11.3 Reasonable Time on Question of a Fact under Act
11.4 Auction Sales (Section 64)
11.5 Method for Sale by Auction
11.6 Rules of Auction Sales (Section 64)
11.6.1 Problems/Case Studies
11.6.2 Questions
Case Laws
Objective Questions with Answers