Chapter 12 - Sale of goods. In this chapter you should understand: the main statutory and common-law rules relevant to the sale of goods; the difference between specific, unascertained and future goods; the difference between contracts for the sale of goods and agreements to sell; | This is the prescribed textbook for your course. Available NOW at your campus bookstore! 12- Copyright © 2000 McGraw-Hill AustraliaCopyright 2009 McGraw-Hill Australia Pty Ltd PPTs t/a Fundamentals of Business Law 6e Sale of Goods Chapter 12 12- Introduction When goods are sold, there exists a contract for the sale of goods. Both common law principles and statutory provisions apply to these types of contracts. The focus of legislation in this area is consumer protection. 12- Copyright © 2000 McGraw-Hill AustraliaCopyright 2009 McGraw-Hill Australia Pty Ltd PPTs t/a Fundamentals of Business Law 6e Relevant Legislation Each state has its own Act that regulates the sale of goods. Requirements of the legislation: Contracts must include consideration to be covered by legislation. Ownership of goods must pass to the buyer. Only covers contracts for sale of goods, not for work done or materials supplied, otherwise the provisions of the relevant Sale of Goods Act cannot be relied upon. Must be evidenced in writing. 12- Copyright © 2000 McGraw-Hill AustraliaCopyright 2009 McGraw-Hill Australia Pty Ltd PPTs t/a Fundamentals of Business Law 6e Types of Goods The type of goods determines the point in time at which ownership will pass to the buyer, along with the 'risk' associated with those goods: Specific goods: in existence. identifiable at time of contract. Unascertained goods: described. not identifiable at time of contract. Future goods: to be acquired by the seller. manufactured by seller after contract made. 12- Copyright © 2000 McGraw-Hill AustraliaCopyright 2009 McGraw-Hill Australia Pty Ltd PPTs t/a Fundamentals of Business Law 6e Distinction Between a Contract for the Sale of Goods and an Agreement to Sell Sale: Property or title in the goods passes to the buyer at the time the contract is made. Agreement to sell: Title or property in goods is to pass at some point in time after the contract is made. 12- Copyright © 2000 . | This is the prescribed textbook for your course. Available NOW at your campus bookstore! 12- Copyright © 2000 McGraw-Hill AustraliaCopyright 2009 McGraw-Hill Australia Pty Ltd PPTs t/a Fundamentals of Business Law 6e Sale of Goods Chapter 12 12- Introduction When goods are sold, there exists a contract for the sale of goods. Both common law principles and statutory provisions apply to these types of contracts. The focus of legislation in this area is consumer protection. 12- Copyright © 2000 McGraw-Hill AustraliaCopyright 2009 McGraw-Hill Australia Pty Ltd PPTs t/a Fundamentals of Business Law 6e Relevant Legislation Each state has its own Act that regulates the sale of goods. Requirements of the legislation: Contracts must include consideration to be covered by legislation. Ownership of goods must pass to the buyer. Only covers contracts for sale of goods, not for work done or materials supplied, otherwise the provisions of the relevant Sale of Goods Act cannot be .
