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CMA Intermediate · Business Laws and Ethics · Sale of Goods Act, 1930

Under Section 62 of the Sale of Goods Act, 1930, a right, duty or liability arising by implication of law under a contract of sale may be negatived or varied by which of the following?

Implied rights, duties or liabilities may be negatived or varied by express agreement, by the course of dealing between the parties, or by usage that binds both parties. Section 62 does not require a signed writing, a court order or a unilateral notice.

  1. AOnly by a written agreement signed by both parties
  2. BExpress agreement, course of dealing, or usage binding both partiesCorrect
  3. COnly by a court order
  4. DOnly by the seller's unilateral notice to the buyer

Explanation

Section 62 says that implied rights, duties or liabilities may be negatived or varied by express agreement, by the course of dealing between the parties, or by usage if the usage binds both parties. A writing is not required, and a unilateral notice by one party is not listed.

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