Legal Question in Business Law in India
A flowervas in an auction sale is displayed on the table.A buyer buys it for 50000 rupees. Auctioneer beats 3 times on the table. Immediately with in a fraction of seconds after 3rd strike the flowervas fell down and broken into pieces.Who will afford this loss? seller? buyer? auctioneer?
Asked on 6/13/15, 10:07 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
14.06.2015
Dear Sir / Madam,
The loss is to be borne either by the seller or the auctioneer depending on the terms of understanding between them, the buyer is in no way liable for the loss since the ownership had not passed to the buyer since the buyer had not taken possession of the vase.
Regards,
Answered on 6/14/15, 9:36 am
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