BUS 393 Study Guide - Midterm Guide: Better Business Bureau, Summary Offence, Indictable Offence

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 393
• Professor: James Pflanz

Document Summary

Chapter 5 legislation in the market place. Provincial statutes that imply terms into sale of goods contracts. Act applies if actual sale (transfer of title) May be immediate or in the future (conditional sale) Where service is incidental to transaction, act applies. Can be used to control risk and title when a third party transports goods. If seller names self to receive goods, he/she retains control of goods, but also. Vendor must arrange transportation and insurance against risk. Risk follows title under the act, but act can be overridden examples: Parties specify in contract where title and risk will transfer. Cif price is not going to be the lowest price. Fob could be the cheapest price bcs all the risk is on you once it"s on its way. Risk and title pass when goods received and paid for. Normally, transfer of title follows rules set out in sale of goods act.