hi, please help
A person (A) sells his watch to another person say (B) on sale or return basis. And later on (B) gives his watch to (C) on sale or return basis. C lost the watch. Who will pay for the loss ?
Gaurav Mohnani (OWNER) (536 Points)
18 June 2012hi, please help
A person (A) sells his watch to another person say (B) on sale or return basis. And later on (B) gives his watch to (C) on sale or return basis. C lost the watch. Who will pay for the loss ?
sandeep
(student)
(32 Points)
Replied 18 June 2012
I think c because in this question it is not mentioned that who is responsble for whom.....c for b and b for a...c will pay to b and b will pass on to a.(as per me....)
Gaurav Mohnani
(OWNER)
(536 Points)
Replied 18 June 2012
Consignment que .. X send good rs. 50000 y at cost+10% y send it to c 20% of invoice price amount of sale wii be? A-55000 B-68750 C-6600 D-5000
Tejaswi Kasturi
(student-cpt)
(427 Points)
Replied 18 June 2012
Even though ownership of goods does not pass, there exists a bailee, bailor relationship between A & B and B & C . one of the duties of the bailee, is to take care of the goods given by bailor as much as a prudent man in the same situation takes. As C lost the watch, We could assume that he didn't take proper care of the watch and as such is liable to B who is in turn liable to A for giving the watch to a person who couldn't take proper care of the watch. so Answer is C who will pay to B who will inturn pay to A
Navin
(Student)
(48 Points)
Replied 18 June 2012
Since 50000 is cost price X sends ===> To Y @ ( 50000 + 10 % ) = 55000
and Y sends ====> To X @ ( 55000 + 20 % ) = 66000
(Note : since Y gets the goods form X at Cost+Mark up == Invoice Price ) so Calculating 20 % on it will be the solution
Aravind..
(CA)
(1262 Points)
Replied 19 June 2012
In sale or return basis, the buyer once does something to acknowledge that he is the owner of the goods the sale is complete. It cannot be returned back. So, in this case both B and C has acted in a way to become owners. So c has to pay to B and B has to pay to A. B's payment is not based on C's payment to him.
*RENU SINGH *
(✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ )
(21627 Points)
Replied 19 June 2012
| Originally posted by : Aravind.. | ||
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In sale or return basis, the buyer once does something to acknowledge that he is the owner of the goods the sale is complete. It cannot be returned back. So, in this case both B and C has acted in a way to become owners. So c has to pay to B and B has to pay to A. B's payment is not based on C's payment to him. |
 |
Truly agree with Arvind
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 19 June 2012
| Originally posted by : Aravind.. | ||
|
|
In sale or return basis, the buyer once does something to acknowledge that he is the owner of the goods the sale is complete. It cannot be returned back. So, in this case both B and C has acted in a way to become owners. So c has to pay to B and B has to pay to A. B's payment is not based on C's payment to him. |
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Gokul Rajasekar
(Student)
(50 Points)
Replied 19 June 2012
PLEASE NOTE IMPORTANT! THE ANSWER stated by Navin is wrong.
THE ACTUAL QUESTION IS
Consignment que .. X send good rs. 50000 Y at cost+10%
Y send it to C at profit of 20% in SELLING PRICE..
What is the cost of good to C?
A-55000 B-68750 C-6600 D-5000
X sends it to Y at 50,000 at cost + 10% = 50,000 + 5,000 = 55,000
Y sends it to C at 20% on selling price.. That is
If selling price is 100, profit is 20, so cost price is 80. so when cost for Y is 55,000, his selling price is
(100/80)*55,000= 68750
ANSWER IS B
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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