Question
Please help me in this question: Klassic Parts Ltd is business supplying car parts. Klassic Parts Ltd has experienced a substantial fall in sales and
Please help me in this question:
Klassic Parts Ltd is business supplying car parts. Klassic Parts Ltd has experienced a substantial fall in sales and have now entered insolvent liquidation. The liquidator, Evangeline, has now become aware of the following:
A month prior to liquidation, Klassic Parts Ltd had in stock in their London warehouse 500 'Toucan Crossply' tyres. These are made for older cars and come in just one size.
Andre, Barack, Clem and Douglas represent parts retailers and have each agreed to buy 100 Toucan Crossply Tyres at a price of 25 per tyre. Andre, Barack, Clem and Douglas have each duly paid 2,500. Klassic Parts have now notified each of the four buyers that their tyres are in their London warehouse and can be collected whenever they wish. Andre, who needs his tyres for a trade show, travels to London and collects his 100 tyres.
Barack, Clem and Douglas have still to collect their tyres. Before they do so it is discovered that a number have been stolen. The theft appears to have taken place shortly before Andre collected his 100 tyres.
Discuss the rights and liabilities of the parties in the following alternative circumstances:
a) the number of tyres stolen was 100;
b) the number of tyres stolen was 200;
c) as in (b) but it is discovered that Andre has, by special arrangement with Klassic Parts, paid only 1,250 and still owes the balance; and
d) the location of the tyres had not been notified to the buyers.
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