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Watfraud, aka Savastore, have gone bust - Some good news atlast !
Bill Payer writes:
"Watford Electronics’s stock remains in the hands of administrators, giving unsecured creditors hope of seeing some of the £3.5m they were owed when the firm collapsed earlier this week." [added crosspost to uk.legal] In the light of retailers going out of business and customers whose money has been taken but the goods not received losing out, would it not be a good idea for the law to change so that title in the goods passes when the retailer receives the payment? Often in the small print, it states that the retailer retains title until payment has been made (which is aimed at business customers who pay on invoice rather than payment with order), so it should not be inequitable for that to be extended so that, where payment is made before the goods are shipped, title passes to the customer when payment is received. |
#2
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Watfraud, aka Savastore, have gone bust - Some good news atlast!
Graham Murray wrote:
Bill Payer writes: "Watford Electronics’s stock remains in the hands of administrators, giving unsecured creditors hope of seeing some of the £3.5m they were owed when the firm collapsed earlier this week." [added crosspost to uk.legal] In the light of retailers going out of business and customers whose money has been taken but the goods not received losing out, would it not be a good idea for the law to change so that title in the goods passes when the retailer receives the payment? Often in the small print, it states that the retailer retains title until payment has been made (which is aimed at business customers who pay on invoice rather than payment with order), so it should not be inequitable for that to be extended so that, where payment is made before the goods are shipped, title passes to the customer when payment is received. The only thing that would then be an issue is what happens if the goods are lost or stolen during delivery to the customer - it would need to be made clear for whom the delivery company is working and whether the goods are insured during delivery. |
#3
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Watfraud, aka Savastore, have gone bust - Some good news atlast !
"Graham Murray" wrote:
Bill Payer writes: "Watford Electronics's stock remains in the hands of administrators, giving unsecured creditors hope of seeing some of the £3.5m they were owed when the firm collapsed earlier this week." [added crosspost to uk.legal] In the light of retailers going out of business and customers whose money has been taken but the goods not received losing out, would it not be a good idea for the law to change so that title in the goods passes when the retailer receives the payment? Often in the small print, it states that the retailer retains title until payment has been made (which is aimed at business customers who pay on invoice rather than payment with order), so it should not be inequitable for that to be extended so that, where payment is made before the goods are shipped, title passes to the customer when payment is received. Not an answer to your question but: http://www.savastore.com/ http://www.savastore.com/letter.html |
#4
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Watfraud, aka Savastore, have gone bust - Some good news atlast !
Graham Murray wrote in message ...
In the light of retailers going out of business and customers whose money has been taken but the goods not received losing out, would it not be a good idea for the law to change so that title in the goods passes when the retailer receives the payment? Often in the small print, it states that the retailer retains title until payment has been made (which is aimed at business customers who pay on invoice rather than payment with order), so it should not be inequitable for that to be extended so that, where payment is made before the goods are shipped, title passes to the customer when payment is received. Correct me if I'm wrong, but surely if title passes to the customer at the point of payment so does the risk. i.e. if it goes missing en route, it would then be the customers problem rather than the supplier? -- Him & Her. Vegetarian, me ? No. The way I look at it is that that cow has eaten all the vegetables I'll ever need. Help school funds @ www.buy.at/oakwoodavenue |
#5
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Watfraud, aka Savastore, have gone bust - Some good news atlast!
Him & Her wrote:
.... Correct me if I'm wrong, but surely if title passes to the customer at the point of payment so does the risk. i.e. if it goes missing en route, it would then be the customers problem rather than the supplier? Don't see why. At least some business accounts allow for delivery before payment - and risk passes at the point of delivery, but title passes only on payment. I see no problem in a consumer transaction with title passing at payment, but risk afterwards at delivery: it's only the reverse order :-) -- Please use the corrected version of the address below for replies. Replies to the header address will be junked, as will mail from various domains listed at www.scottsonline.org.uk Mike Scott Harlow Essex England.(unet -a-t- scottsonline.org.uk) |
#6
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Watfraud, aka Savastore, have gone bust - Some good news atlast !
They are back:
http://www.saverstore.com/ http://www.channelregister.co.uk/200...ns_saverstore/ Jach |
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