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Lecture

MOS 2275 Business Law.docx


Department
Management and Organizational Studies
Course Code
MOS 2275A/B
Professor
Philip King

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MOS 2275 Business Law
SGA – Sale of Goods Act
Sale: Title changes hands in exchange of money
Does not apply to leases and licenses, loan of goods, collateral in goods.
Must be for money, so a barter is not in the act.
Goods: tangible, personal property
Does not apply to intangibles, so shares or properties
Money is intangible – it is symbolic
Distinction between goods and services
A lot of transactions are between goods AND services
G versus White spot
Always applies in consumer transaction.
Sometimes applies in business transaction.
Implied Terms
Conditions
oRight to sell
oDescription
oSample
oMerchantable quality
oFit for purpose
Warranties
oTitle
oPayment + delivery
Remedies
Repudiation
Damages
Title + Risk
Intention
5 Rules
Consumer Protection
SGA mandatory
Leases
Services
Controlled
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