Management and Organizational Studies 2275A/B Lecture Notes - Lecture 9: Security Interest, Bid Rigging, Predatory Pricing

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Sales of a good act (1893: buyer carries 99% of the risks before the act, evoluion. Started to balance due to the goal of faciliies the paricipaion of the economy: from england, implied terms of a contract. Merchantable quality: focus on the price, is someone else willing to pay the same price for the product. Payment within a reasonable ime (only beneit for the seller: helps determine when itle passes from seller to buyers. The sga helps determine when itle passes from seller to buyer. Titles passes as money exchange hands: provides remedies for breaches. Buyers able to sue under damages-breach of warranty, if wish. Could be excludes upon agreement: applies to every sales of goods. Sales: transfers of ownership from one to another for money. Doesn"t apply to services, intangible, real property. Stops exclusion of the implied terms of the sales of goods act. If goods are purchase for personal use, it"s a consumer transacion.