Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Excel Co, a meat-packing company sold meat products to Silver Enterprises, the buyer. The buyer contracted the service of a trucking company, ABC Transports Ltd.,

Excel Co, a meat-packing company sold meat products to Silver Enterprises, the buyer. The buyer contracted the service of a trucking company, ABC Transports Ltd., to transport the goods to Toronto. The goods will then be delivered to a distributor, XY Ltd of which Silver Enterprises is the minority investor. The shipment will be paid in instalment scheme. Unfortunately, the buyer ran into financial troubles and will not be able to settle its financial obligation with the Excel Co. Excel Co initiates and arranges to resell the goods directly to XY Ltd. Excel Co argued that they have the right to resell the goods because they have the title as they retained certain documentation from the buyer until full payment is made. ABC Transports Ltd., who has not been paid of their service, brought an action before the court to stop the sale. The contract of sale is F.O.B point of shipping. 

 

Who has the title to the goods? Does ABC Transport Ltd has legal right to stop the sale? State your reasons.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

The determination of title and the legal right to stop the sale in this scenario would depend on the ... 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

Financial Accounting and Reporting a Global Perspective

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

4th edition

978-1408066621, 1408066629, 1408076861, 978-1408076866

More Books

Students also viewed these Law questions

Question

Identify four types of stress.

Answered: 1 week ago