1. Any 5 implied conditions & meaning of conditions?

Implied undertaking as to title, etc. (Section 14) -

S. 14(a)– In every contract of sale, unless the circumstances are such as to show a
different intention, there is an implied condition on the part of the seller that in case of sale, he has a right to
sell
the goods and in the case of agreement to sell, he will have the right to sell goods at the time when property
in
them is to pass.
2.Implied Condition in sale by description –
S. 15– When the goods are sold by description there is an implied
condition that the goods supplied shall correspond with the description.
3. sec 17 Implied condition in sale by sample
the bulk shall correspond with the sample in quality
the buyer shall have a reasonable opportunity of comparing
the bulk with the sample
the goods shall be free from any defect, rendering them unmerchantable
this implied condition applies only to latent defects
4. sale by descrition as well as sample
sec 15 provides that if sale is by sample as well as by description the goods must correspond
both with the sample and with the description
5. condition as to quality or fitness
sec 16 - in a contract of sale there is no implied condition
as to quality or fitness of the goods for a particular purpose.
The buyer must examine the goods thoroughly nefore he buys them in order to satisfy himself that
the goods will be suitable for the purpose for which he buying

3. Any 5 differences b/w sale & agreement to

sell?
sale: Under a coontract of sale, the property in the goods is transferred from the seller to the buyer
the contract is called a sale but where the transfer of the property in the goods is to take place at a future
time or subject to some condition thereafter to fulfilled the contract is called an agreement to sell (sec4(3))
SALE AGREEMENT TO SELL
ownership passess to buyer Ownership remains with the seller
it is a executed contract it is executory contract
Risk of loss falls on the
risk of loss falls on the buyer seller
seller cannot resale the goods seller can sale goods to third party
it can be in case of future and unascertained
it can be in case of existing and specific goods goods

2. Rights of unpaid seller in brief?

Rights of an unpaid seller
against the goods against the buyer personally
Suit for price
where the property in the goods has been passed sec55
lien sec 47 to 49 suit for damages sec 56
repudiation of contract
stoppage in transit sec 50 to 52 sec60
 resale sec 54 suit for interest sec 61

where the property in the goods has not passed (sec 46(2))
withholding delivery
stoppage in transit

4. Any 3 types of Goods in brief?

Existing specific ascertain unascertained

ed
Future
contingent

Existing goods : these are the goods which are owned and possessed by the seller at the time of sale.
only esiting goods can be the subject matter of a sale.
These existing goods may be - specific goods, ascertained goods and unascertained goods
2. Future goods
These are the goods which a seller does not possess at the time of the contract but which
will be manufactured or produced or acquired by him after making of the contract of sale (sec2(6))
eg. The rainway admin entered into a contract for sale of cool ash that might accumulate during the period of contract
3. Contingent contract - though a type of future goods, these are the goods the acquisition of which by the seller depends
upon a contingency which may or may not happen
eg. The sale depending upon the arrival of the ship

5. Meaning of warranty and any 2 types of warranties?

sec 12(3) of sale goods act 1930 defines - a warranty is a stipulation collateral to the main purpose of the contract,
the breach of which

gives rise to a claim for damages but not to a right to reject the goods and treat the contract as repudiated
The two main types are express and implied warranties. An express warranty is one that is clearly stated (or "expressed")
either verbally or in writing, while an implied
warranty automatically covers most consumer goods valued over a certain amount, but only provides
a base level of protection for consumers

6. Any 4 types of partners?

1. Active partners (works actively in firm) who takes active part in the copnduct of the business
2. Sleeping partner (does not work but invest capital)- invest capital and share profits or losses along with other
partners but does not take active part in the conduct of the business in the firm
3. Nominal partner (form uses his name for reputation or gain benefit.
He neither invest capital nor claims share in the profits or takes part in the business
4. Partner by Estoppel or Holding out (keeps silence when annouced as partner before others) and
5. Minor Partner, who has not completed the age of 18 years

8. Contents of partnership deed in brief?

Partnership deeds, in very simple words, are an agreement between partners of a firm
This agreement defines details like the nature of the firm, duties, and rights of
partners, their liabilities and the ratio in which they will divide profits or losses of the firm
Although the drafting of partnership deeds is not compulsory, it is always advised to do so
Contents of Partnership Deeds
there is no specific format prescribed for drafting a partnership deed
a typical deed contains the below-mentioned clauses.
The name of the firm
Name and details of all partners
Date of commencement of business
Duration of the firm’s existence
Capital contributed by each partner
Profit/loss sharing ratio
Interest on capital payable to partners
The extent of borrowings each partner can draw
Salary payable to partners, if any
The procedure of admission or retirement of a partner
The method used for calculating goodwill
Preparation of accounts of the firm
Mode of settlement of dues with a deceased partner’s executors
The procedure followed in case disputes arise between partners