Management and Organizational Studies 2275A/B Lecture Notes - Lecture 9: Implied Warranty, United Nations Convention On Contracts For The International Sale Of Goods, Caveat Emptor

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

Introduction: selling something to someone else, can be verbal or written, if something is unclear in their contract then we go to the sale of. Goods act: laws affecting sale of goods, common law principles of contract, tort law, also statutes affecting sale of goods. Objectives: protect parties, protect consumers from harm, promote fair, competitive marketplace, protect consumers from unfair practices, consumer person who ultimately uses the product of service. The sale of goods: contract of sale legal foundation for every sale of goods transaction. The seller has the right to sell the goods (cid:523)i. e. it"s not stolen(cid:524) The goods will be reasonably fit for the intended purpose. The goods are equivalent to their description: conditions primarily concern suitability and fitness. Remedy for breach of warranty: legislation permits the buyer to maintain an action for damages or ask the court to reduce the purchase price but the buyer must continue with the contract.