Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ajak Ltd needs to buy some specialized machinery and Faiza Ltd is a manufacturer of this machinery. Ajak visits Faiza Ltd's warehouse and decides to

image text in transcribed
image text in transcribed
Ajak Ltd needs to buy some specialized machinery and Faiza Ltd is a manufacturer of this machinery. Ajak visits Faiza Ltd's warehouse and decides to buy three machines. A contract of sale of goods is signed by Ajak and Faiza Ltd on September 1, 2022 The first machine is a second-hand machine which had already been repaired by Faiza Lid and was there at the time of Ajak's visit. The price was $10.000 to be paid in a month. Faiza Ltd told Ajak: "You can take it now if you want". Ajak replied: "Thanks. I'll take it tomorrow morning". Faiza Ltd replied: "Up to you". The second machine Ajak bought was a second-hand machine that was also there waiting for reparations. Faiza Ltd promised to complete the reparations in two weeks from the date of the contract. The price was $20.000. Ajak paid the full price on September 1. The third was a new machine to be manufactured by Faiza Ltd within three months. The price was $40.000. It was paid on that day too. A significant percentage of the parts of the new machine were brought to the warehouse during the afternoon. A fire totally destroys Faiza Ltd warehouse in the evening of September 1. Faiza Itd calls you and asks three questions on September 2: 1. Can we claim the price of the first machine? 2. Can we keep the $20.000 for the second machine? 3. Can we keep the $40.000 for the third machine? Provide reasoned answers based on the Contract and Commercial Law Act

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law Text and Exercises

Authors: Roger LeRoy Miller, William E. Hollowell

8th edition

1305509609, 1305644823, 9781305856479 , 978-1305509603

More Books

Students also viewed these Law questions

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago

Question

The role of life: It consists of your own service to yourself.

Answered: 1 week ago