Trade Law
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Title: Trade Law

Essay Details:

Subject: Business
Author: Gerald J
Date: September 1, 2016
Level: University
Grade: A
Length: 5 / 1423

Essay text:

As the carriage as issued a clean set of air way bills to the seller it means that the goods delivered to the carriage were in perfect condition and its not the mistake of BTN that the goods were partly damaged. The Article 59 of the Sale of Goods Act states that the buyer is liable to pay the seller on the specific date mentioned in the contract which is determined and in this justification Meniloise, the buyer had a 30 day draft period where he is liable to pay BTN within 30 days of the receipt of the goods. The Act 8 of Bills of Exchange Act defines the draft as an “unconditional order in writing, addressed to addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer” and so thereby the draft issued here becomes an unconditional guarantee for the payment to the seller...

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