Commercial law

Glitt_123

can someone please help me in relation to what section of law applies when the seller goes into liquidation after the buyer has paid for the goods and it's due to be delivered?
what is the main case law?
thanks aloy

Glitt_123

Glitt_123 wrote: »

can someone please help me in relation to what section of law applies when the seller goes into liquidation after the buyer has paid for the goods and it's due to be delivered?
what is the main case law?
thanks aloy

Company law mostly. Some elements of contract.

With the little info you've given it's likely the seller is an unsecured creditor who would be entitled to little/nothing whatsoever.

MarkAnthony

+1 on above but I think Kayroo meant to say buyer, although what he says is also correct in terms of an intermediary. OP from what you've said the buyer in your case would be essentially screwed. If the buyer has used a credit/debit card (ideally a credit card) get onto the bank immediately.

Mr. Incognito

In any liquidation unsecured creditors are paid last. Unless its anglo irish bank.

cobhguy28

It will count what you paid for. If you went in and asked for something general like a tv/couch and they said they would get one from the warehouse and have it delivered then you an unsecured creditor However if you went in and physically picked out something on display in the shop like the showroom couch/tv and are just waiting on delivery then that couch is your and you can pick it up and take it.

MarkAnthony

cobhguy28 wrote: »

It will count what you paid for. If you went in and asked for something general like a tv/couch and they said they would get one from the warehouse and have it delivered then you an unsecured creditor However if you went in and physically picked out something on display in the shop like the showroom couch/tv and are just waiting on delivery then that couch is your and you can pick it up and take it.

The only issue with that (and a source would be great - I don't doubt you but it's useful info to have and I'd like to be able to substantiate it) is liquidators are immune from legal action for causing the company to breach contract. So while they may be under a legal obligation to hand over the TV/couch - if they chose not to you've no means of enforcement. You're now rightly going to ask me for a source and I'll have to look up my company law notes.

cobhguy28

MarkAnthony wrote: »

The only issue with that (and a source would be great - I don't doubt you but it's useful info to have and I'd like to be able to substantiate it) is liquidators are immune from legal action for causing the company to breach contract. So while they may be under a legal obligation to hand over the TV/couch - if they chose not to you've no means of enforcement. You're now rightly going to ask me for a source and I'll have to look up my company law notes.

I will look for a source but am at work now. Its got to do with the fact that the contract is complete and you are the owner of the goods the store is minding them untill delivery date.

cobhguy28

Glitt_123 wrote: »

can someone please help me in relation to what section of law applies when the seller goes into liquidation after the buyer has paid for the goods and it's due to be delivered?
what is the main case law?
thanks aloy

Sale of goods act 1893

Part II.

Effects of the Contract.

Transfer of Property as between Seller and Buyer.

Clarke v Michael Reilly & Sons (1962) 96 ILTR 96.

cobhguy28

cobhguy28 wrote: »

I will look for a source but am at work now. Its got to do with the fact that the contract is complete and you are the owner of the goods the store is minding them untill delivery date.

lawreform.ie/_fileupload/RevisedActs/WithAnnotations/EN_ACT_1893_0071.PDF

Sction 18 gives rules