SALE OF GOODS.
No. 4 of 1896.
681
(3) There is an acceptance of goods within the meaning of this section when the buyer does any act in relation to the goods which recognises a pre-existing contract of sale, whether there is an acceptance in performance of the contract or not.
Subject-matter of contract.
Existing or future goods.
5.--(1) The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or goods to be manufactured or acquired by the seller after the making of the contract of sale, in this Ordinance called "future goods."
(2) There may be a contract for the sale of goods, the acquisition of which by the seller depends upon a contingency which may or may not happen.
(3) Where by a contract of sale the seller purports to effect a present sale of future goods, the contract operates as an agreement to sell the goods.
6. Where there is a contract for the sale of specific goods, and the goods, without the knowledge of the seller, have perished at the time when the contract is made, the contract is void.
Goods which have perished before sale.
7. Where there is an agreement to sell specific goods, and the goods, without any fault on the part of the seller or buyer, perish before the risk passes to the buyer, the agreement is thereby avoided.
Price.
Ascertainment of price.
8. (1) The price in a contract of sale may be fixed by the contract, or may be left to be fixed in manner thereby agreed, or may be determined by the course of dealing between the parties.
(2) Where the price is not determined in accordance with the foregoing provisions, the buyer must pay a reasonable price. What is a reasonable price is a question of fact dependent on the circumstances of each particular case.
9.
Agreement to sell at valuation.
(1) Where there is an agreement to sell goods on the terms that the price is to be fixed by the valuation of a third party, and such third party cannot or does not make such valuation.
SALE OF GOODS.
No. 4 of 1896.
681
(3) There is an acceptance of goods within the meaning of this section when the buyer does any act in relation to the goods which recognises a pre-existing contract of sale, whether there is an acceptance in performance of the contract.
or not.
Subject-matter of contract.
future goods.
5.--(1) The goods which form the subject of a contract of Existing or sale may be either existing goods, owned or possessed by the seller, or goods to be manufactured or acquired by the seller after the making of the contract of sale, in this Ordinance called "future goods."
"}
(2) There may be a contract for the sale of goods, the acquisition of which by the seller depends upon a contingency which may or may not happen.
(3) Where by a contract of sale the seller purports to effect. a present sale of future goods, the contract operates as an agreement to sell the goods.
6. Where there is a contract for the sale of specific goods, Goods and the goods, without the knowledge of the seller, have which have
perished. perished at the time when the contract is made, the contract is void.
before sale
7. Where there is an agreement to sell specific goods, and Goods subsequently the goods, without any fault on the part of the perishing seller or buyer, perish before the risk passes to the buyer, but after the agreement is thereby avoided.
Price.
agreement to sell.
ment of
8. (1) The price in a contract of sale may be fixed by the Ascertain- contract, or may be left to be fixed in manner thereby agreed, price. or may be determined by the course of dealing between the parties.
(2) Where the price is not determined in accordance with the foregoing provisions, the buyer must pay a reasonable price. What is a reasonable price is a question of fact dependent on the circumstances of each particular case.
9.
valuation.
(1) Where there is an agreement to sell goods on the Agreement terms that the price is to be fixed by the valuation of a third to sell at party, and such third party cannot or does not make such
No comments yet.
Private notes are available after approval.