Sale of Goods Flashcards
Real property?
Property which the law treats as land (land or interests in land)
Personal property?
All property which is not land
Things in action (legal claims): intangible
Things in possession: tangible goods
What are the requirements for possession?
Exercise of control (The Tubantia (No 2) [1924] - had control over the shipwreck so he possessed it)
Intention to possess - to exclude others from possession e.g. hotel soap bar (guest does not own it, but possesses it)
What legislation is relevant for B2B contracts?
Sale of Goods Act 1979
What legislation is relevant for B2C contracts?
Consumer Rights Act 2015
What legislation is relevant for C2C contracts?
Sale of Goods Act 1979
When does property pass from seller to buyer for a contract of sale?
Property passes as soon as the contract is made - s 2(4) SGA
When does property pass from seller to buyer for an agreement to sell?
Property passes at a future time of is subject to a condition (s 2(5) SGA)
Agreement to sell becomes a sale when time elapses or condition is fulfilled (S 2(6) SGA)
What are specific goods?
Goods that are identified + agreed upon when the contract is made (s 61(1) SGA)
What are unascertained goods?
All goods that are not specific
They cannot become specific goods, they can become ascertained
Why is the distinction between specific + unascertained goods important?
It is important when determining when property passes from seller to buyer
Goods must be ascertained for property to pass (property in unascertained goods cannot be transferred) - s 16 SGA
What are existing goods?
Goods that are owned or possessed by the seller (s 5(1) SGA)
What are future goods?
Goods that need to be manufactured or acquired by seller after contract is made (s 5(1) SGA)
Can future goods amount to a sale?
Future goods always amount to an agreement to sell (s 5(3) SGA)
