Commercial transaction law and practice Essay Example | Topics and Well Written Essays - 4000 words

Commercial transaction law and practice - Essay Example The company should have been also the one who did the vetting of the delivered to make sure that he was believable and trustworthy enough to run such errands. Instead, the company hired someone who would later be identified as a gang member after BB failed to receive the goods. When entering into a contract regarding the selling and buying of a product, there should be certain terms that are to be reached by the two parties that are involved. There are two major ways through which this issue can be resolved. First of all, the two parties are supposed to agree on the time range that will be given for the delivery of the goods. There should also be an agreement about the prices of the products that are being traded. Finally, and just as important, the two parties should agree about who of them is supposed to be responsible for the delivery of the goods. If the supplier is the one to deliver the goods, he is supposed to take charge of the entire process up until the time that the recipient will be able to acknowledge, in signing that he has received the goods from the supplier and that now he takes full responsibility for them. Should anything happen to the goods at this point, then the recipient is the one who is to suffer the damages. The second option that is present in such agreements is that once the goods are ready, it is the consumer who is supposed to take charge of the delivery of the goods to where he wants them. In this case, he may either come for them or organize for how the goods will reach him. Therefore, in this case, once the goods leave the premises of the supplier, they are supposed to sign and agree that now the consumer is taking liability for all the goods and that if anything should occur to them, he will be entirely responsible (Hyland and Patterson, 1999). In the case that is present, the supplier, PSL is the one that is in charge of making sure that the products have reached his client. This means that unless the