• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March and June 2025 exams.
Get your discount code >>

Sales of goods Act

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Sales of goods Act

  • This topic has 5 replies, 2 voices, and was last updated 12 years ago by MikeLittle.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • November 6, 2012 at 5:30 am #55057
    pritu
    Member
    • Topics: 3
    • Replies: 3
    • ☆

    hello sir,
    may i please know what are the rights of a buyer when a seller goes bankrupt and the goods are bicycles?

    November 6, 2012 at 5:20 pm #106651
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23312
    • ☆☆☆☆☆

    Has the purchase contract been completed? So are you asking about the warranty situation? Or are you asking about having entered into a contract with the seller and, before delivery, the seller declares bankruptcy?

    And, in that situation, have you paid a deposit? Or the full amount?

    I can’t answer your question with the little information you have given me!

    Maybe the answer would be that the buyer should travel by bus if he can’t buy a bicycle.

    Pritu, you need to give me more details

    November 7, 2012 at 12:25 pm #106652
    pritu
    Member
    • Topics: 3
    • Replies: 3
    • ☆

    sorry sir, the full information this is the full information.

    The seller had sold a number of bicycles to the buyer, the seller was to load the goods on a ship to be transported to the buyer. The seller packed the bicycles with crates marked with the buyer’s name and address. Before the bicycles could be despatched, the seller went bankrupt and refused to surrender the goods to the buyer

    November 7, 2012 at 7:17 pm #106653
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23312
    • ☆☆☆☆☆

    OK, it now depends on the specific contract terms. If this were a pure English sale of goods situation, title to the goods ( unascertained at the inception of the contract ) would pass when the goods had been unconditionally appropriated to the contract and the buyer had notice of that fact.

    You mention shipping, so I suppose we’re facing an International situation. So it now depends on specific contract terms – was the sale Exw, Fob etc. these details / terms explain at what time risk passes and generally risk passes with ownership.

    Again, Pritu, for me to give you an answer, I need to know the details within the contract about the timing of the passing of the title to the goods.

    An interesting point – people tend to go bankrupt because they are not selling enough goods. Why would the bankrupt seller not want to deliver the goods ( presumably at a profit )?

    Seems crazy to me!

    November 8, 2012 at 1:01 pm #106654
    pritu
    Member
    • Topics: 3
    • Replies: 3
    • ☆

    am sorry for not providing full information coz this is what i have. i dont have more information i send u b4. and thnx alot for replying

    November 8, 2012 at 9:54 pm #106655
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23312
    • ☆☆☆☆☆

    You’re welcome

  • Author
    Posts
Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • hana1992 on Foreign exchange risk management (2) Part 1 – ACCA (AFM) lectures
  • John Moffat on Overcapitalisation and Overtrading – ACCA Financial Management (FM)
  • ISABIRYEZA on Overcapitalisation and Overtrading – ACCA Financial Management (FM)
  • ISABIRYEZA on Overcapitalisation and Overtrading – ACCA Financial Management (FM)
  • huunghia18499 on Foreign currency- Functional currency – ACCA (SBR) lectures

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in