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Law For Business Essay

3286 words - 13 pages

Assessment 4Law for Business1) Two parties, Sharpsell Stores and L Ectronics have entered into a contract.The case involves Sharpsell Stores agreeing to buy a particular second-hand mini computer from L Ectronics. Both parties have come to the agreement that L Ectronics will completely overhaul the computer before the delivery. Unfortunately prior to L Ectronics carrying out their side of the agreement the mini-computer was destroyed in a fire.With this type of situation, neither Sharpsell Stores nor L Ectronics are directly in breach of their contract agreements. L Ectronics could not carry out their side of the agreement because the computer was destroyed.When a party cannot carry out an agreement due to a fire or any other natural disaster etc, in which it is impossible for the party to carry out his obligations after the agreement and prior to completion, is known as supervening impossibility.There are two categories within supervening impossibility, rei interitus and constructive total destruction. This particular case falls under the category of rei interitus as the cause of destruction was not the fault of either party and the destruction was that of an external entity. If the courts rule out a contractual agreement as being rei interitus, then it would result in the contract being frustrated. An example of rei interitus is the case of Taylor v Caldwell in 1863. One party had booked a music hall so that they could do a series of concerts. Unfortunately the music hall had burned down. It was not the fault of the hall owner and therefor the courts had brought the contract to an end through frustration, as the hall owner could in no way perform his obligation.However one of the parties will have to bear the financial loss of the mini-computer.Under Scots Law the party that has to forfeit the loss of the computer is L Ectronics. TheReason for this is because L Ectronics were required to do something to the goods in order to put it into a deliverable state. Sharpsell stores agreed to buy the mini-computer on the condition that L Ectronics would completely overhaul the computer before delivery. However this was not done due to the fire that broke out, Thus resulting in the transfer of ownership not passing to Sharpsell Stores, as L Ectronics did not put the specific goods into a deliverable state.If L Ectronics had carried out their side of the agreement and overhauled the computer before the fire had broken out and notified Sharpsell Stores that it had been done then ownership of the computer would have transferred to Sharpsell Stores. The reason for this would be that L Ectronics would have met the conditions that Sharpsell Stores had set.The Legal Act that would have settled this dispute is the Sale of Goods Act 1979, section 18, rule number 2.Rule number 2 states that "Where there is a contract for the sale of specific goods and the seller is bound to do something to the goods to put them into a deliverable state, ownership passes to the...

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