There are some specific duties of sellers and buyers of goods that need to perform. Both buyers and sellers are responsible for any mistake. This mistake can terminate the business relationship between buyers and sellers. Along with the duties, they have some rights. Just check – the rights of buyers and sellers of the goods.
- Duties of sellers of goods
The sellers have to perform 4 specific duties. These are –
It is the duty of sellers to deliver the goods to the buyer. Then the buyers accept or reject it. If the buyers accept it then he must pay for the goods. It is the law of contract of sale. Besides, payment and delivery may occur at the same time. In that case, the seller shall be ready and willing to give possession of goods to the buyer. However, the buyer is also ready to make payment in exchange for possession of goods.
Moreover, the sellers are bound to give delivery according to the terms of the contract and rules of the sale of goods.
- Risk of deterioration in the goods
The seller of goods agrees to deliver the goods at his own risk at a place. Besides, he takes all the risk of deterioration in the goods when they are in transit.
- Damages of non-delivery
If the sellers are not able to deliver the goods, he is responsible for damages to buyers. However, if the seller wrongfully neglects or refuses to deliver goods to the buyer, the buyer can sue the seller for damages for non-delivery.
- Specific performance
Under certain circumstances, the seller can breach the contract of delivering specific goods. Otherwise, the contract needs to perform specifically. learn the – concept of exchange.
- Duties of buyers of goods
The buyers of the goods have to perform 5 specific duties. These are –
- Payment of price
After the delivery of goods from the seller, the buyer may accept it or reject it. If the buyer accepts it then of he must need to pay the price of the goods. However, It is the terms of the contract.
If the buyer wrongfully refuses to accept the delivery of goods, he must pay the compensation to the seller.
The seller delivers the goods to the buyer at his request or application for delivery. Otherwise, the seller is not bound to deliver the goods at all.
- Liability of buyer
When the seller is ready to deliver his goods, the buyer needs to be ready for taking delivery. If an accident occurs due to the negligence of the buyer, he is responsible for compensating it. At the time of making the application, the buyer should mention the time of delivery. Otherwise, the seller will not responsible for the delivery of goods within a stipulated time.
- Interest and special damages
The seller and buyer may recover interest and damages by the contract law. If the contract law is recoverable only then it is possible. The buyer can recover the paid money if the consideration of purchasing has failed. gather more information on – the business buying process.
So, we understand that the Duties of sellers and buyers of goods are important for maintaining a good business relationship between them.