Essay about Introduction to Business Law

2812 Words Feb 17th, 2013 12 Pages
Business law
Defination of law of carriage:
Law of carriage means carrying goods from one place to another against the price. It is the branch of business. Carriage is the basis for the management and operation of business successfully and effectively. It is the factor of business activity that helps to mobilize the labor, raw material, and tools and machinery etc. Modern business activity are based on the exchange of goods and transportation of goods from one place to another.
According to section 65 of Nepal contract act.2056 ,”a contract is related to carriage shall be deemed to have been concluded, if it provides for transportation of goods from one place to another.”
Classification of carriage: carriage can be
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ii. The first carrier is liable if more than one carrier is involved in the same type of good. iii. The carrier should be liable for any damaged of goods. iv. To pay the compensation for any loss and damages of goods due to breakage. This kind of liability can be limited as ten thousand rupees. Sec. 65 of NCA. v. To insure the goods carried.

Exception of this laws: the public carrier should not be liable except otherwise agreed in the contract to carring the following goods. i. Valuable goods. ii. Government securities, negotiable instruments, certificates. iii. Currency iv. Perishable nature of products. v. Poisons etc.
Sale of goods act:
Definition of sale of goods:- contract of sale of goods means transfer of ownership from one person to another against price. It is the act performed by seller and buyer. In other words, the term contract of sale is a contract whereby the seller transfer or agrees to transfer the property in goods to the buyer at a certain price. The contract of sale defines the term goods, according to business law the term goods can be defines as;”every kind of movable property other than the actionable claims and money; and includes stocks, shares, growing crops, grass and the things attached to or forming part of land.”
Types of goods:-
There are mainly three types of goods they are explained below: 1. Existing goods: existing goods are those goods which are

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