In case of breach of a contract for the sale of goods, the common remedies available are the following: damages, rectification, rescission, specific performance, injunction and restitution. 1. Damages Damages are the most common remedy sought by the innocent party, who is entitled to claim damages as compensation for loss arising directly and naturally, in … Read more
1. General rule: Risk follows the ownership Under section 22 of the Sales and Goods Ordinance (SOGO), unless otherwise agreed, the goods remain at the seller’s risk until the property therein is transferred to the buyer, but when the property therein is transferred to the buyer the goods are at the buyer’s risk, whether delivery … Read more
The title to goods passes when the parties intend it to pass. There are generally 2 approaches when considering the question of when does title to the goods passes to the buyer if not agreed by the parties: a. Specific Goods What are Specific Goods? The definition of “specific goods” is set out in section … Read more
1. What is a “brand ambassador”? To maximise the exposure and build a strong reputation for your business, hiring a brand ambassador would be one of the best options. A brand ambassador is a person who is employed by a company to represent a brand in a positive way, and by doing so, helps to … Read more
If a company focuses more on marketing in order to boost its business, hiring a brand ambassador is a common option. This is the time you need a brand ambassador agreement/contract to protect the legal rights of both parties. A brand ambassador agreement records the terms of the agreement between the parties – the ambassador … Read more
A business owner can enter the market as a seller by manufacturing their own products directly. For most business owners, however, especially for startups, a franchise agreement or a distribution agreement would be most suitable. Both types of agreements permit sellers to resell items created by another company in a more effective and affordable means. 1. … Read more
A distribution agreement is a contract between a supplier and a distributor (or reseller), which stipulates the responsibilities of the two parties as well as the terms for the distribution of goods which can, in some cases, be selective or exclusive. Key terms of a distributor agreement 1. Territory A territory clause sets out a … Read more
In order to unify the transaction process when ordering resources for your company, a step-by-step procedure should be followed when using a Purchase Order (PO) in order to maximise its effectiveness and precision. Depending on the nature of a company (i.e., size, industry, human resources, organizational structure, etc.), the PO procedure is flexible and subject … Read more
Purchase Orders serve as a legally binding document of the goods/services ordered. It is a standard document that is important for both the buyer and the vendor. Here are the 4 main problems you might encounter during the business that can be prevented by using a Purchase Order: 1. Tracking Orders and Inventory When the … Read more
A Purchase Order is a legally binding commercial source document issued by a buyer to a vendor to make repeat orders for goods or services from a business. It is a standard document that is essential for a well-managed purchasing process. Once a purchase order is accepted by the vendor, it becomes a legally binding … Read more