Sale of Goods Act 1957 (Act 382) [As at 10th May 2023]
Sale of Goods Act 1957 (Act 382)
[As at 10th May 2023]
An Act relating to the sale of goods.
Detailed Contents of Sale of Goods Act 1957 (Act 382):
Malaysian law governs the selling of goods in the nation through the Sale of Goods Act of 1957 (Act 382). In a sale of goods transaction, the act specifies the rights and responsibilities of both purchasers and sellers. The Malaysian Sale of Products Act of 1957 is described in detail here:
- The law is applicable to all agreements for the sale of commodities, including agreements for the transfer of ownership of items.
- Goods are any tangible, movable property, excluding money and claims that can be brought in court.
- Contract Formation: According to the statute, a sale agreement may be created verbally, in writing, or through behaviour. The contract must be in writing, nevertheless, if the worth of the items is RM5,000 or greater.
- Transfer of Property: According to the statute, the buyer receives ownership of the items at the time of the parties' intended transfer. The property in the goods is transferred when the parties expect it to be transferred in the absence of any agreement.
- Delivery: According to the legislation, when the seller makes the items available to the buyer and the customer accepts them, delivery of the commodities is complete. The seller shall deliver the products to the place designated by the parties as the place for delivery. The vendor is obligated to deliver the products to the buyer's home or place of business if the parties haven't agreed on a specified location.
- Payment: According to the statute, the buyer is required to pay the agreed-upon amount for the products.
- Contract Breach Remedies: The legislation stipulates that if any party violates the agreement, the other party may pursue a number of remedies, including the ability to dissolve the agreement, pursue damages, and pursue specific performance.
- Implied Terms: Unless the parties have expressly agreed differently, the act also specifies a number of implied terms that are applicable to all sales contracts. Included in these implied agreements are the rights of the seller to sell the items, the buyer's right to receive the goods, and the quality of the goods.
- Exclusion of Liability: Subject to specific restrictions, the act permits the parties to exclude or restrict liability for contract breach.
- Consumer Protection: The legislation gives customers greater protection by requiring statutory warranties from sellers of goods and giving them the right to return things that don't meet their expectations.
In conclusion, Malaysia's Sale of Goods Act 1957 gives forth the fundamental guidelines for sales of products in the nation, covering contract formation, property transfer, delivery, payment, and remedies for violation of contract. With the imposition of statutory warranties and a right to return items that do not meet the terms of the contract, the act also offers extra protection for consumers.