The general rule prevalent in India is that the risk of damage or loss of movable property lies with the owner of the good. The Latin term "˜res perit domino"™ expresses that the thing is lost to the owner of the property. This principle is applicable in the case of sale of movable property.
The movable property includes every kind of movable property, including stocks and shares, growing crops, grass, and things attached to or forming part of the land that is agreed to be severed before sale or under the contract of sale. It does not apply to actionable claims and money. The barter or exchange of goods is not covered under this Act as it is governed by the general provisions of the Indian Contract Act, 1872.
By Aastha Srivastava" Transfer of Risk in International Sale"
Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-5 , August 2018,
Paper URL: http://www.ijtsrd.com/papers/ijtsrd17076.pdf
Direct URL: http://www.ijtsrd.com/management/law-and-management/17076/transfer-of-risk-in-international-sale/aastha-srivastava
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