MCS 3040 Chapter Notes - Chapter 23: Caveat Emptor, Personal Property, Syllogism

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Joe Radocchia

Document Summary

Contract of sale: legal foundation for every sale of goods transaction. Foundation of common law concerning sale of goods: caveat emptor, (cid:862)let the (cid:271)u(cid:455)er (cid:271)e(cid:449)are(cid:863) 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. The seller has the right to sell the goods. The goods will be reasonably fit for the intended purpose. The goods will be of merchantable quality. The goods will correspond to the sample. The goods are equivalent to their description.