•Lecture 4 •Passing of the property in the goods •When does the property in the goods pass (unascertained goods) •No property can pass in unascertained goods which were not appropriated to the contract or purchaser Re London Wine Co [1986] •In Re Stapylton Fletcher [1994] the court found that the property in the goods had been sufficiently appropriated by segregating the relevant quantity of wine from their general trading stock and placing it into separate storage. •s 20A of the Sale of Goods Act 1979 •This section gives proprietary remedies to a buyer of goods forming part of a larger bulk (See Re Wait [1927]) •a precondition is that the goods subject to the sale are forming part of an identified bulk, and that the goods had been prepaid or partially paid for •Cont. •Unless otherwise agreed by the parties , property in an undivided share In the bulk is transferred to the buyer •The buyer becomes an owner in common of the bulk s 2A(2)(b) •The buyer becomes an owner in common, not the ...
THE INSTITUTE OF FINANCE MANAGEMENT NOTES ON THE LAW OF CONTRACT Prepared by: FUNGO, A.E., LL, B (Hons) Dar, LLM (Essex-UK) INTRODUCTION TO CONTRACT LAW Tanzania law like English law recognises only two kinds of contract:- (a) The contract made by deed i.e. under seal which is called deed or specialty and, (b) The simple contract. Simple contracts Simple contracts depend on the presence of consideration, and as a rule they need be made in no special form. However, sometimes, simple contracts are required to be in writing eg. Contracts for the disposition and transfer of land as well as contracts of guarantee Deed contracts A deed must be in writing or printed on paper or parchment. It is often said to be executed, or made conclusive as between the parties, by being ‘signed, sealed, and delivered’. MEANING OF A CONTRACT A contract is an agreement enforceable by law or an agreement that is legally enforceable. “…a promise or set of promises for the breach of which the law gives a remedy,...
270 Welsh Development Agency v. Export Finance Co Ltd Court of Appeal (Civil Division) CA (Civ Div) Dillon, Ralph Gibson and Staughton L JJ Judgment delivered 19 November 1991 Receivership--Registrable charge--Company financed export trade under "masteragreement" with finance company--Agreement authorised company to agree to sellon finance company's behalf "goods immediately thereafter agreed to be sold to"finance house--Whether agreement created charge--Whether finance company ordebenture holder entitled to proceeds of sales--Receivers instructed overseasbuyers to pay debts to them--Whether receivers liable for wrongful interferencewith contract--Companies Act 1985, sec. 395, 396; Insolvency Act 1986, sec.234(3), (4). This was an appeal by the defendant, Export Finance Co Ltd ("Exfinco"),against the judgment of Browne-Wilkinson V-C [1990] BCC 393 that a...
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