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Purchase and Sale of goods

Purchase and Sale of goods. A Contract Terms and Conditions of Sale Forms of Credit Hire Purchase Consumer Protection Means of Consumer Protection. A Contract. Contract: an agreement between two or more people legally-binding can be a written or verbal agreement.

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Purchase and Sale of goods

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  1. Purchase and Sale of goods • A Contract • Terms and Conditions of Sale • Forms of Credit • Hire Purchase • Consumer Protection • Means of Consumer Protection

  2. A Contract • Contract: • an agreement between two or more people • legally-binding • can be a written or verbal agreement

  3. Terms and Conditions of Sale • Implied Terms (默示條款) • Express Terms (明示條款)

  4. Caveat emptor (購者自慎) • Implied Terms: 2) Quite possession (不受干擾 用權) 3) Third party ownership (第三者擁有權) 4) Merchantable quality (可銷售品質)

  5. Price of the goods + Packaging cost + Cost of delivering goods to the port of departure • 1) Price: • Free Alongside Ship (FAS) • Express Terms: Charges for loading goods onto a ship • Free on Board (FOB) • Cost and Freight (C&F) Cost of delivering goods to the port of destination • Cost, Insurance and Freight (CIF) Cost of insurance in transportation

  6. 2) Quality 3) Quantity 4) Payment • Cash Before Delivery (CBD) • Cash With Order (CWO) • Cash On Delivery (COD) • trade discount • cash discount 5) Warranty 6) Delivery

  7. Forms of Credit • Hire purchase (租購) “an agreement by which customer takes a possession of goods but does not own them until repayments are completed” • Credit sales (賒銷) “a transaction in which the buyer owns the goods when the first payment is made” • Conditional sales (有條件銷售) “a contract for the sale of goods, paid for by instalments, and which the buyer is legally bound to buy”

  8. Hire Purchase Buyer Seller Economy • Advantages • Disadvantages • Rights and obligations of buyer and seller

  9. Consumer Protection • Rights of a Consumer • right to buy the products that work • right to safety • right to choose • right to be informed • right to to be heard

  10. Responsibilities of a Consumer • Know their rights • Caveat emptor • Understand and read the contract before signing • Read and follow the instructions • Choose carefully • Be aware of the result of consumption

  11. Means of Consumer Protection • Government • Consumer Council

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