MCS 3040 Chapter Notes - Chapter 23: United Nations Convention On Contracts For The International Sale Of Goods, Canadian Business, Jaguar

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Andrew Mac Dougall

Document Summary

Contract of sale: legal foundation for every sale of goods transaction. Foundation of common law concerning sale of goods: caveat emptor, l(cid:28664)t t(cid:28667)(cid:28664) (cid:28661)uy(cid:28664)r (cid:28661)(cid:28664)w(cid:28660)r(cid:28664) . Caused unfair results, causing principles to be further developed, then became statutes. Sale of goods personal property in its tangible, portable form, as well as items attached to land that can be severed. Goods personal property, and items attached to land that can be severed. Protects buyers by implying terms into a contract for the sale of goods. Gives buyers remedies depending on the type of terms breached. Conditions important or essential to the purpose of the contract. Warranties minor term that is not classified as a condition under sale of goods legislation. A breach of an implied condition (major term) allows the innocent party either to reject the goods and terminate the contract, or to sue for damages, or both.