Contracts Class 7 NAGY, Csongor István

Slides:

Advertisements

Similar presentations

Sale of Goods Act, 1930 A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer.

Advertisements

1. Parties have contractual capacity 2. Contract has legal purpose 3. Offer 4. Acceptance 5. Consideration 6. Statute of Frauds compliance.

© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

1 Scope Scope of the UCC: to provide a uniform and consistent set of rules to deal with all phases of commercial sales transactions. Scope of Art. II of.

Sales Contracts.  Sale – Contract in which ownership of goods transfers immediately from the seller to the buyer  Ownership – Collection of rights that.

© 2007 Prentice Hall, Business Law, sixth edition, Henry R. Cheeseman Remedies for Breach of Sales and Lease Contracts.

The Sale of Goods Act 1930.

Why Title Insurance Presented by David Welte, Midwest Title.

Contracts for the Sale of Goods & Warranties Law A.

© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

CONTRACTS. A contract is a: – Promise or set of promises, – And if someone breaches or breaks contract – You can sue and the law may provide remedy –

Prentice Hall © PowerPoint Slides to accompany THE LEGAL ENVIRONMENT OF BUSINESS AND ONLINE COMMERCE 5E, by Henry R. Cheeseman Chapter 13 Sales and.

Sales Regulations/Warranties Study Guide

STEPH SHAW February  10 credits  Unit co-ordinator: Steph Shaw  Lecturer: Steph Shaw  Aims: develop an understanding of the legal liabilities.

Sales Contracts and Warranties OBE 118, Section 10, Fall 2004 Professor McKinsey Now we focus on the UCC, in other words Commercial Law How the UCC governs.

UNIT 4: Consumer and Housing Law Chapter 23 Contracts

© 2004 West Legal Studies in Business A Division of Thomson Learning 1 Chapter 35 Sole Proprietorships and Franchises Chapter 35 Sole Proprietorships and.

CHAPTER 19 WARRANTIES AND PRODUCT LIABILITY DAVIDSON, KNOWLES & FORSYTHE Business Law: Cases and Principles in the Legal Environment (8 th Ed.)

What is Commercialization of IP Josiah Hernandez.

What advantages and disadvantages are associated with the sole proprietorship? What advantages and disadvantages are associated with the sole proprietorship?

The UCC: Sales and Secured Transactions

Foundations of Australian Law Fourth Edition Copyright © 2013 Tilde Publishing and Distribution Chapter 11 Sale of goods.

CONTRACTS. A contract is a: – Promise or set of promises, – And if someone breaches or breaks contract – You can sue and the law may provide remedy –

Chapter 22 Buying a Home.

Modern Real Estate Practice in Illinois

The Law of Contract Unit 1.

CHAPTER 6 CONTRACTS AND TITLE CLOSING This chapter introduces students to the types and contents of contracts that are common in real estate sales transactions.

Essentials Of Business Law Chapter 16 Warranties McGraw-Hill/Irwin Copyright © 2007 The McGraw-Hill Companies, Inc. All rights reserved.

Copyright © 2009 by Pearson Prentice Hall. All rights reserved. PowerPoint Slides to Accompany CONTEMPORARY BUSINESS AND ONLINE COMMERCE LAW 6 th Edition.

Consumer Protection Law. Uniform Commercial Code The UCC is a large set of business statutes which simplified, clarified, and modernized many laws relating.

©2001 West Legal Studies in Business. All Rights Reserved. 1 Chapter 22: Remedies for Breach of Sales and Lease Agreements.

CHAPTER 18 PERFORMANCE AND REMEDIES DAVIDSON, KNOWLES & FORSYTHE Business Law: Cases and Principles in the Legal Environment (8 th Ed.)

Contracts in Real Estate Transactions Chapter 6. Contracts in Real Estate Transactions Necessary Elements of a Contract –Offer and acceptance, Counteroffer.

Chapter 11 Real Estate Contracts The signing of a valid real estate contract is the keystone of a real estate transaction.

1 FINANCIAL LEASING AND FACTORING CEMRE EKİCİ BAYRAM FINANCE IZMIR UNIVERSITY OF ECONOMICS.

Contract of Sale of Goods. Sale of Goods Act Definition of Contract of Sale Section 4(1) of the Sale of Goods Act defines a contract of sale of goods.

Buying Existing and Turnaround Businesses Opening Franchises. Patterns of Entrepreneurship Chapter 12.

Real Estate Law The Basic Real Estate Contract Real Estate Law The Basic Real Estate Contract.

1 ARE 306 Unit 11 Real Property: Acquisition & Disposition.

Crucial Clauses in Complex Supply Agreements AIJA Half Year Conference 2015 – Antwerp Moritz Maurer.

Real Estate Principles and Practices Chapter 6 Contracts and Business Law © 2014 OnCourse Learning.

© 2004 West Legal Studies in Business A Division of Thomson Learning 1 Chapter 22 Remedies for Breach of Sales and Lease Contracts Chapter 22 Remedies.

© 2007 West Legal Studies in Business, A Division of Thomson Learning Chapter 16 Performance and Breach of Sales and Lease Contracts.

Chapter 9 Contracts for the Sale of Goods Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior.

Essentials Of Business Law Chapter 15 Sales McGraw-Hill/Irwin Copyright © 2007 The McGraw-Hill Companies, Inc. All rights reserved.

Ownership and Risk of Loss in Sales or Goods Ownership and Risk of Loss in Sales or Goods Section 13.1.

Business Law MAN-3 Bakiev Erlan, Ph. D. PERFORMANCE AND REMEDIES.

IAR Legal Affairs presents: RESIDENTIAL FORMS 2015 LISTING CONTRACT.

Comprehensive Volume, 18 th Edition Chapter 29: Remedies for Breach of Sales Contracts.

Sale of goods this act may be called the sale of goods act,1930. it extends to the whole of India except the state of jammu and kashmir. It shall come.

Copyright © 2008 by West Legal Studies in Business A Division of Thomson Learning Chapter 27 Remedies for Breach of Sales Contracts Twomey Jennings Anderson’s.

Understanding Business and Personal Law The Sale and Lease of Goods Section 13.1 Contracts for the Sale of Goods Legal Terms sale (p. 268) price (p. 268)

Previous Lecture Buyer & Seller Rights Unpaid Seller & his Rights.

Modern Real Estate Practice in Illinois Eighth Edition Chapter 6: Brokerage Agreements ©2014 Kaplan, Inc.

Modern Real Estate Practice in Illinois Eighth Edition Chapter 11: Real Estate Contracts ©2014 Kaplan, Inc.

Ch. 7 Consumer Law and Contracts 7-1 Sales Contracts.

Chapter 11 Real Estate Contracts

NAGY, Csongor István Contracts Class 5 NAGY, Csongor István

Chapter 36: Sole Proprietorships and Franchises

OBE 118, Section 3, Fall 2004 Professor McKinsey

Regulation of franchise in Tunisia

Chapter 27 REMEDIES FOR BREACH OF SALES CONTRACTS

Business Law MAN-3 Bakiev Erlan, Ph. D. PERFORMANCE AND REMEDIES

4 Real Estate Transactions

STRUCTURE OF THE PRESENTATION

Contracts in Real Estate Transactions

The Sale of Goods Act, 1930 This Act applies to the whole of India except the State of Jammu & Kashmir. It came into force on 1st July 1930.

Presentation transcript:

Contracts Class 7 NAGY, Csongor István

Agreement: offer + acceptance James to Jerry: Offer Jerry to James: Counter- offer (yes, but = new offer) James to Jerry: Acceptance

Rights if the other party breaches the contract If performance is refused: you may sue for specific performance (but in common law you may sue only for damages) If the goods are defective: reparation, replacement, reduction in price. If you are not interested in the performance of the contract due to the breach: you may cancel the contract. In all cases, you have a right to claim damages, provided, you have suffered any.

Specific types of contract Sales contract Lease contract/Leasing Factoring Distribution agreement Franchising

Sales contract Seller: – transfer of title (ownership) – handing over the thing Buyer (purchaser): – pay the price – take the goods

Lease agreement US: simple lease. Europe: lease + sale. Rationale: – financing of durable goods/assets; – security; – tax considerations.

Factoring ‘Sale of claims’ Financing method Collection service Can the money be collected from the original obigee if the debtor does not pay?

Distribution agreements Framework (sales) contract Mandate agreement The distributor has to take all the reasonable measures to promote the goods. Sole distributor, exclusive distributor, non- exclusive distributor. Selective distributors.

Franchising ‘Resale’ of knowledge It normally involves distribution elements The franchisor gives a franchise (persmission) to the franchisee to use the franchisor’s trademark, knowhow, patents etc. Examples: fastfood restaurants, gas-stations, hotels/hostels.