Management and Organizational Studies 2275A/B Lecture Notes - Lecture 9: Collection Agency, Unsecured Creditor, Secured Creditor

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

Document Summary

Sale of goods legislations comes from england through evolution. Buyers used to be responsible for their own protection law generally favoured sellers. Law realized that it wasn"t fair to buyer. Law also realized that if goal was to promote trade/commerce, no protection to buyers means that they"ll stop spending: frightening people away from trading, need to provide buyers with enough protection that they"re enthusiastic participants in marketplace. Evolution towards protection to buyers happened in form of implied terms in sale of goods contracts. Obsolete because hasn"t been updating since 1930s before invention of car. Sale of goods act applies to every sale of goods. Doesn"t apply to things which aren"t goods : doesn"t apply to real estate, intangibles, services, receivables, intellectual property, etc . Doesn"t apply to anything that isn"t a sale: sale transfer of title/ownership in exchange for $ Only applies to side that receives $ for tablet.