S 3 B - sale of goods act - S 3 B Sale of Goods Act The...

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S 3 B – Sale of Goods Act The Sale of Goods Act applies to sales and agreements to sell. Not: 1 Exchanges of goods (barter) 2 Bailments or leases 3 Consignments a. Consignor sends goods to an agent who will offer the for sale b. Title passes directly from the consignor to the purchaser 4 Non-contractual transfer of property 5 Sales of intangible property 6 Provisions of services 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. 1 Money must form a part of the transaction, else it would be barter. 2 Sale is when transfer of titles occurs immediately. 3 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 1 Real property (land) 2 Personal property a. Choses in action – not covered by SGA i. Obtain their value because they represent binding obligations b. Goods (chattels) – covered by SGA i. Derive their values intrincially from the utility or satisfaction they provide ii. When determining if a good or not, test is if the value of the good comes from the value of the materials or the value of the
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This note was uploaded on 12/10/2011 for the course COMM 393 taught by Professor Elaine during the Spring '10 term at The University of British Columbia.

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S 3 B - sale of goods act - S 3 B Sale of Goods Act The...

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