The Path to a Greener Future: Understanding Sustainable Development In an era where environmental challenges and resource depletion are becoming increasingly evident, the concept of sustainable development has gained significant importance. Sustainable development aims to meet the needs of the present without compromising the ability of future generations to meet their own needs. This blog post will explore the principles, goals, and strategies of sustainable development, highlighting its critical role in ensuring a balanced and healthy future for our planet. "Transforming our world: The path to sustainable development." What is Sustainable Development? Sustainable development is a holistic approach that integrates economic growth, environmental protection, and social equity. It seeks to create a harmonious relationship between human activities and the natural world, ensuring that resources are used efficiently and responsibly. Definition: The most widely recognized de...
Basis
|
Contract
of sale |
Agreement
to sell |
1. Meaning
|
A contract
where the seller transfers the property in goods to the buyer for a price is a contract of sale. |
An agreement
where the seller agrees to transfer the property in goods to the buyer in future or upon the fulfilment of certain conditions is called an agreement to sell. |
2. Nature of contract
|
It is
an executed contract where both parties have performed. |
It is
an executory contract where property in goods is to be transferred in future. |
3. Transfer of property
|
Property
is immediately transferred at the time of making the contract. |
Property
is transferred in future upon the fulfilment of conditions. |
4. Risk of loss
|
Risk of
loss shifts with the transfer of property to the BUYER. |
Until and
unless the property is transferred, risk of loss remains with the SELLER. |
5. Breach by buyer
|
If the
buyer commits breach of contract, then the seller can sue for the price and also claim damages. |
If the
buyer commits breach, the seller can only sue the buyer for the damages for non – acceptance of goods or non – payment. |
6. Breach by seller
|
When he
seller commits breach of contract, the buyer may sue the seller and obtain the possession and ownership of goods as well as claim the damages. |
When seller
commit breach, the buyer can only sue the seller for the damages and avail the personal remedy against the seller. |
7. Insolvency of seller
|
If the
seller becomes insolvent, still the contract is performed by the official assignee of Buyer. |
When the
seller becomes insolvent and buyer had performed, the buyer can claim damages and avail the personal remedy against the seller. |
8. Insolvency of Buyer
|
When the
buyer is declared insolvent, the contract is to performed by official assignee of Buyer. |
The buyer
on becoming insolvent cannot be forced to perform by the seller who has paid in advance but damages can be claimed. |
9. General and particular property
|
The buyer
gets the RIGHTS in REM from the seller. That is, the ownership rights of buyer are against the whole world. |
The
buyer gets the RIGHTS in PERSONAM. That is, these are the rights of the buyer only against the seller. |
10. Rights to RE-SELL
|
The seller
cannot resell the goods once the ownership rights are transferred by him to the buyer. |
The property
in goods is not transferred in an agreement to sell, therefore the seller still can find another buyer, although he shall commit breach and shall be liable for it to buyer. |
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