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; the definition of a contract for sale of goods; | This is the prescribed textbook for your course. Available NOW at your campus bookstore! 12- Copyright © 2000 McGraw-Hill Australia Sale of goods Chapter 12 Sale of goods Sale of goods is a contract 12- Copyright © 2000 McGraw-Hill Australia Sale of goods Relevant legislation: relevant State Acts Requirements of 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 Sale of Goods Act cannot be relied upon. Must be evidenced in writing. 12- Copyright © 2000 McGraw-Hill Australia Types of goods Determine 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 Australia Definitions 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 McGraw-Hill Australia Sale of goods Covers Goods - the delivery of the goods is the main substance of the agreement not Work done or materials supplied - involves skill and effort with goods resulting from the effort 12- Copyright © 2000 McGraw-Hill Australia Property or possession? Property in goods - Ownership or title to goods, . risk of goods Possession in goods - Custody or control of goods 12- Copyright © 2000 McGraw-Hill Australia When property (and risk) in goods passes, ownership passes Type of goods - indicates when property or title in goods passes to buyer. Specific/ascertained - At time parties intend it to pass, considering: - terms of contract - . | This is the prescribed textbook for your course. Available NOW at your campus bookstore! 12- Copyright © 2000 McGraw-Hill Australia Sale of goods Chapter 12 Sale of goods Sale of goods is a contract 12- Copyright © 2000 McGraw-Hill Australia Sale of goods Relevant legislation: relevant State Acts Requirements of 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 Sale of Goods Act cannot be relied upon. Must be evidenced in writing. 12- Copyright © 2000 McGraw-Hill Australia Types of goods Determine 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
