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PASSING OF PROPERTY IN THE GOODS

•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 ...
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LAW OF CONTRACT NOTES

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,...
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PASSING OF PROPERTY IN THE GOODS

•Passing of the property in the goods •Passing of the property: why is it important? •In a nutshell, it signifies the moment when the seller cease to be, and the buyer becomes the owner of the goods •The buyer bargains for the ‘property in goods’ and not in their ‘possession’ •Agreement to Sell •The Contract is executory •Any remedy against the seller is in damages for breach •The risk of loss is on the seller •If the seller becomes insolvent, the buyer has no rights to the goods •Where the buyer becomes insolvent the seller can claim the goods back •The buyer cannot insist on in rem rights against third parties (Sillavan v Aliakmon 1986) •Sale agreements •There is a conveyance in addition to the contract •The buyer has in rem rights •The buyer is left with all the responsibility for the goods, including risk of lost •The doctrine of frustration is inapplicable; s 7 of SGA •Where the seller becomes insolvent the buyer can claim the goods •Risk •General Rule: Any damage to goods ought t...
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