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Lecture

Chapter 16 - Sale of Goods Act Textbook Notes from 12th Ed... Covers every heading and subheading, as well as things he throws in during class (which as you know is a lot!)

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Department
Business
Course
BU451
Professor
Charles Davidson
Semester
Fall

Description
Chapter 16 Sale of Goods Sale of Goods ActApplies to sales not barter bailments or leases consignments noncontractual transfersOf goods not land or intangibles or provision of services Consumer Protection LegislationApplies to sale of goodsservices might extend warranties described in SoGAUnlike the SoGA it doesnt protect B2B transactions Contracts of SaleMoney must be part of the transactionDistinguish between a sale and an agreement to sell but Act applies to both o Sale seller transfers title at the moment the contract is made o Agreement to sell transfer is deferred until a future time goods can be nonexistentConsignment transfer of goods from consignor to consignee agent to sell at new location GoodsGoods personal chattelsusually must be something you can touchChoses in action binding obligationssomething that doesnt intrinsically have value but may have value in other contextsTerms in a Contract of Sale Caveat Emptorlet the buyer bewareApplies where the goods are in existence and are specific items that may be inspected by the buyer and when the seller makes no misrepresentations about themEncourages buyers to take care before contract to buy itHowever if this was a strict principle sometimes sellers would rip buyers offSoGA protects themApplies to the quality of goods not the ownership Statutory Protection for the Buyer Implied TermsCondition essential term of the contract breach relieves injured party from further perfWarranty nonessential term does not relieve the injured party from performanceRetail sales sales of consumer goods by retail businesses to private individualsSellers Title o Implied condition that the seller has the right to sell the goods o Implied warranty that buyer will have quiet possession of the goods rdo Implied warranty that goods will be free of any charge from a 3 partyDescription o Implies that goods sold by description will conform to the description includes samplesSustainability and Quality o 2 conditions where buyer doesnt have to exercise care as to the quality of the goodsThe buyer tells the seller the purpose of the goods and relies on the sellers skill or judgement
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