COMM 393 Lecture Notes - Lecture 7: Insurance Policy, Consignor, Intangible Property
Document Summary
S 3 b sale of goods act. The sale of goods act applies to sales and agreements to sell. Consignments: consignor sends goods to an agent who will offer the for sale, title passes directly from the consignor to the purchaser. A contract of sale is a contract whereby the seller transfer or agrees to transfer the property in the goods to the buyer for a money consideration called the price. Money must form a part of the transaction, else it would be barter. Sale is when transfer of titles occurs immediately. Agreement to sell is when the transfer of title is deferred to some point in the future. Goods personal property other than money or choses in action. Applies where the goods are in existence and are specific items that may be inspected by the buyer and when the seller has made no misrepresentations about the goods.
