Chapter 12 - Sale of goods. At the end of 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! Sale of goods Chapter 12 12- Learning objectives At the end of 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 the definition of a contract for sale of goods the rules relating to the passing of title in goods from the seller to the buyer the application of the exceptions to the nemo dat rule when implied condition and warranties apply and the consequences of their breach the remedies available to an unpaid seller or to a buyer if seller is in breach of contract. 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. Relevant legislation Each state has its own Act that regulates the sale of goods. All states but Victoria title them the Sale of Goods Act. These acts apply to all types of entity from companies to individuals and to all types of goods. Requirements of the legislation: Contracts must involve an exchange of monetary consideration for goods. 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. In NT, WA and Tasmania, such contracts must be evidenced in writing, elsewhere, maybe verbal, written or implied. 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. Distinction between a contract . | This is the prescribed textbook for your course. Available NOW at your campus bookstore! Sale of goods Chapter 12 12- Learning objectives At the end of 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 the definition of a contract for sale of goods the rules relating to the passing of title in goods from the seller to the buyer the application of the exceptions to the nemo dat rule when implied condition and warranties apply and the consequences of their breach the remedies available to an unpaid seller or to a buyer if seller is in breach of contract. 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. Relevant legislation Each state has its own Act that regulates the .
