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Sale of Goods Act: Time and Payment

Created by

@OrderlyGray

Questions and Answers

Implied conditions or warranties

Customary conditions or warranties

Statutory conditions or warranties

Express conditions or warranties (correct)

The Sale of Goods Act

The understanding between the parties

The type of goods being sold

The condition laid down in the contract (correct)

To protect the interests of the buyer

To make the contract more binding

Because there is no contract to the contrary (correct)

To provide clarity to the contract

To infer the intention of the parties Signup and view all the answers

The time of payment is deemed not to be of essence Signup and view all the answers

Implied conditions or warranties Signup and view all the answers

Time of payment is not deemed to be the core issue or essence of a sale contract, unless there is an understanding between the parties to the contrary (Section 11 of the Sale of Goods Act).
Whether or not the time of payment is of essence depends upon the condition laid down in the contract.

Conditions or warranties of a contract of sale can be express or implied.
Express conditions or warranties are specified by the parties at the time of making the contract.
Implied conditions and warranties are applicable in contracts without specific warranties or conditions.
The purpose of implied conditions and warranties is to infer the intention of the parties when making the contract.
In the absence of a contract to the contrary, implied warranties and conditions are deemed to be a part of the contract.