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How is price ascertained under the Sale of Goods Act, and where can I practise questions on it?

Ascertainment of price questions

Ascertainment of price questions

Asked by Anakha··1 answer

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  1. BrunoAI answerAI first answer — verify with your teacher

    Ascertainment of price is covered by Sections 9 and 10 of the Sale of Goods Act, 1930. Section 9: Price can be: 1. Fixed by the contract itself. 2. Left to be fixed in an agreed manner. 3. Decided by the course of dealing between the parties. If none of these applies, the buyer pays a reasonable price. Section 10 (valuation by a third party): - If the third party fails to fix the price, the agreement is void. - If goods were already delivered and used by the buyer, the buyer pays a reasonable price. - If a party's fault stops the valuation, the other party can sue for damages. For practice questions, try the Law question banks in notes [1] and [4] below.

Related questions

What is a reasonable price under the Sale of Goods Act?

What counts as a reasonable price is a question of fact and depends on the circumstances of each case.

Is a contract void if the price is not mentioned?

Not necessarily; if the price can be fixed in an agreed manner or by course of dealing, or otherwise a reasonable price is payable, the contract stands.

What happens if the valuer refuses to fix the price?

The agreement becomes void, but if goods have been delivered and used by the buyer, the buyer must pay a reasonable price.

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