Abstract
The author proposes that the qualities stipulated in the representations and warranties clause, specify the identity of the object sold, which means that the transfer of a company that does not fulfill those qualities, is not enough to comply with the vendor’s obligations. The breach authorizes the purchaser to ask for partial termination of the contract, which implies a price reduction, and additionally compensatory damages. Partial contract termination does not end with the contract bond and, therefore, allows the purchaser to keep the property of the company, reestablishing economic equilibrium in the agreement, and eventually compensating damages.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
