30 January 2013
Dear all, We used to import goods from a certain foreign manufacturer under a contract. A clause in the said contract stated that the title of the said goods shall remain with the said foreign manufacturer until the entire sale consideration of the goods were not paid off by us. In this situation after the goods were brought into our country but before we could pay off the entire said sale consideration towards the foreign company; the bonded warehouse were the goods was stored was burned down in a fire incident. In such situation can we claim ourselves to be the importer of the said goods? In what legal relation do we stand in respect of the said goods which perished in the fire? Regards, Sagnik Sanyal
CAclubindia
