In legal parlance, a contract is normally an agreement entered into with a view of instituting a legal commitment. Contracts are legally enforceable; in case a party goes against the agreement the other party can rush to the courts to seek for a remedy. All contracts, irrespective of their nature have common elements: – there has to mutual consent between the parties involved, mutual consent here may mean there is an offer, which has to be accepted to make the contract valid and legally enforceable; a consideration, which is the subject matter of agreement, must also exist and it has to be sufficient. Sales of goods act is a law under the contracts law and most principles applying to contracts also apply to them. Sales of goods are of a form of contract that involves the buyer and the seller and consideration which are the goods to sold or bought. The seller makes an offer and the buyer assuming that the title of the goods rightfully belongs to the seller may either accept or not to buy (Schaffer, Agusti, & Earle, 2008). It’s the title held by the seller that is transferred to the buyer, this is in accordance with the principle of “Nemo data quad nonhabet,” in the case of sales of goods the principle “caveat emptor” means buyer beware also applies. In our case, weaver mills co. entered into a sales contract with natural Fibre Company. Natural Fibre Company was to sell and deliver 100000 yards of jute at $0.64 per yard. The offer here was 100000 yards of jute at $0.64 and nothing else. The offer was forthright accepted by Weaver Mills Company and Natural Fibre Company started by delivering the first batch of the jutes of which it made a delivery of 22228 yards at the agreed price. Later the company decided to dishonor the unaccomplished portion of the contract which was the delivery of77772 yards of jute at $0.64 his is the case of a part performance. According to the CIGS, Weaver Mills Company has the right to protest against Natural Fibre Company for going against their sale agreement. According to the agreement, the seller’s obligation is normally to deliver the goods and hand over documents relating to the sale and that of the buyer is to receive the consignment in case they meet their specifications of quality, quantity, and description (Schaffer, Agusti, & Earle, 2008). Weaver Mills Company will then go to the courts to seek for remedy for breach of contract by Natural Fibre on: – part performance where he only delivered in part hence inconveniencing Weaver Mills to look for another supplier. In addition, weaver will also sue natural fibre for a compensation of the extra amounts incurred above the amount they had agreed upon of $0.64. This suit will enable Weaver Mills recover the extra amounts he had spent in acquiring the goods from other suppliers. The remedies above are according to the United Nations Convention on Contract of International Sales of Goods, it states that remedies are in the case of a no fundamental breach, remedies like specific performance, damages, and adjustment of contract prices are available to the aggrieved party (Schaffer, Agusti, & Earle, 2008). Therefore, all the above remedies are as well available to Weaver Mills Company against Natural Fibre Company. Therefore, in case the latter files a suit, then Natural Fibre Company is obliged to compensate all these and even others.
References
Schaffer, R., Agusti, F., & Earle, B. (2008). International Business Law and Its Environment. South-Western: Cengage Learning.Print.