TOPIC: “TRANSFER OF PROPERTY”
Business & Labor Law students will be ready to:
Business & Labor Law Students are likely to:
Mr Yasir is a well known industrialist in the field of leather products with the brand name Yasir Leather International. The demand for his company products were ever high capturing more and more market. But due to the prevailing law and order and electricity situation, his firm found it hard to meet the demand of the customers. Another problem with the ever changing customer demands in the form of new styles for the dresses.
In order to deal with this situation, Mr Yasir approached a China based firm to procure a new machinery that had a low price along with the backup of electricity for as long as one hour. Being satisfied with these features, he signed the agreement with the china based company for the requisite machinery and also made half of the payment. The machinery was loaded for Pakistan destined at Karachi. At the arrival of the machinery at Karachi, it was found that it was damaged partly. He intends to cancel this deal and demand for a new or fresh machinery without any defect.
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one m0re GDB ,,.,.
it covers 1 to 37 chapters
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The Nature of Movable and Immovable Collateral and the Consequences for Registries
Access to credit is an important driving force in economic growth. It ranks high on the list of factors emphasized by individual entrepreneurs, and small and medium sized enterprises as critical to the survival and growth of their businesses with the concomitant job retention and creation and other benefits to the general welfare of society as a whole. Movable and immovable property offered as collateral make the extension of credit attractive to lenders and readily available to businesses on favorable terms. The legal and infrastructural framework, however, must be in place for collateralized lending to function in the credit market. Movable and immovable property registries are an essential component of the necessary infrastructure.
Due in large part to the nature of collateral in general the suggestion is occasionally made to combine movable and immovable property registries. To be sure, there are similarities between mortgages in real estate and security interests in movable property. Both mortgages and security interests serve as collateral for a debt. Both provide that if the debt is in default the secured party can look to the collateral to satisfy the debt. Lenders in assessing the risk of making a loan refer to the registries to determine whether or not a prospective borrower has an interest in the property intended as collateral and whether or not that intended collateral is subject to prior encumbrances. An initial impression is thus that mortgages and security interests should be treated alike and registered in the same registry.
However, the similarities mislead, since they don't take into account the fundamental differences between movable and immovable property and the consequences of these differences in the establishment of registries. Combining movable and immovable property registries actually increases the complexity that lenders must deal with, because the nature of the property demands that a search for encumbrances against movable property be conducted differently than a search for encumbrances in immovable property. As a consequence, international practice is to keep the registries separately
in first case
yahan 2 cheezun ko deikha jaye ga
1) warrantee mein purchase kiya tha ya guarantee mein???
ager guarantee mein purchase ki thi to replace kiya jayega aur ager warantee mein purchase ki thi to repaired hogi
2) in 2nd case ofcourse Mr. yasir can decline if the machinery doesn't justify what he demanded ..