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Effects of Destruction of Goods

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Effects of Destruction of Goods

Imagine your day starting with a weird phone call. Your manager calls up to say that that the goods that were already contracted have been destructed. Well, nothing would be worse than coming up with such a worse situation. There are different types of goods and the parties do have different options for agreeing when it comes to the delivery of their products. There are times when we usually get petrified thinking about the dire consequences in case a contracted property gets destructed or perished. Now, destruction and perishing are two different aspects but then both revolve around the same thing i.e. goods. Let us start with destruction and once we have obtained a somewhat fair idea about the same, we can move onto the next aspect.

Destruction:

There may be times when during a contract for sale of a particular goods you will find that the goods have been damaged or destructed, but then the seller has absolutely no clue about it. Well, in such cases the contract is usually considered to be null and void. Many people often fail to understand how this exactly occurs. Well, to begin with, the entire thing usually revolves around the theory of impossibility of performance. Believe it or not, but then the fact cannot be denied that the subject matter of your contract is one of the viable component. Hence, in case it is damaged or devastated, then the contract in no way can be executed further.

Perishing:

Now, that you have gathered a somewhat fair idea about the destruction of goods, the next thing that you’ll be focusing on is the perishing of the same. Besides complete destruction and damage, in this case it may also happen that that the goods may have been lost or stolen on their way to delivery. Destruction of goods may also take place before the sale, but after the agreement has been signed. In case the agreement has been signed and then the goods have been lost, the buyer needs to make the full payment even if he has not received the goods.

Related Topics:

  • Sale of Goods Act

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