LAW 331- Law of Commercial Transaction

Welcome to Law 331: Law of Commercial Transaction I. This course is a compulsory course in National Open University of Nigeria that you must offer in the Law programme. This course is offered in the first semester of third year of your study and it is a 4 credit unit course. This first semester of Law of Commercial Transaction course material deals basically with the Sale of Goods Law. The nature of sale of goods, sources and meaning of sale of goods will be covered. The general principle and formation of contract as it relates to sale of goods, elements of sale of goods, terms of contract, exclusion clause, fundamental term, fundamental breach, passing of property by non owner, passing of property in specific and unascertained goods will all be examined. Duties and remedies of seller as well as that of the buyers are dealt with in this course material. Treated also in this course material is the carriage of goods by air, sea and land as it relates to delivery of goods and the use of various payment devices.