delivery
business law
Quick Summary
In business law, "delivery" refers to the seller's obligation to transfer goods to the buyer at the agreed time, place, and manner. This is a fundamental aspect of commercial transactions.1
Seller's Obligations:
- Deliver the goods: The seller must provide the goods as specified in the contract.1
- Transfer ownership: Legal systems vary on when ownership transfers, but it generally occurs with the contract's conclusion or upon delivery.1
- Warrant conformity: The seller guarantees the goods meet the contract's specifications.1
Buyer's Obligations:
- Payment: The buyer must pay the agreed-upon price.2
- Acceptance: The buyer must accept the delivered goods.2
Failure to deliver can result in the buyer seeking damages, while delayed delivery may also lead to claims if time was essential to the contract. Carriers are also liable for delay or misdelivery of goods.13
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