CHAPTER 6. TRANSFER OF TITLE WHEN RIGHTS OF OTHERS THAN BUYER AND SELLER INVOLVED. Sec. 34. Attempted sale by one not owner; in general. A. When True Owner Not Estopped to Assert Title. Sec. 35. In general. Sec. 36. In case of consignment for sale. Sec. 37. In case of bailment other than for sale. B. When True Owner Estopped to Assert Title Against Third Persons. Sec. 38. In general. Sec. 39. Allowing another to assert that he is the owner. Sec. 40. Clothing another with documentary indicia of title. C. When True Owner Prevented by Statute to Assert Title. Sec. 41. In general. Effect of retention by seller after sale. Bulk sales of entire stock in trade. CHAPTER 7. TRANSFERRING TITLE BY TRANSFERRING THE Sec. 47. What are documents of title. Sec. 48. Documents of title either negotiable or non-negotiable. Sec. 49. Distinction in legal effect between negotiable and non-negotiable documents of title. Sec. 50. Sec. 51. How negotiation of documents accomplished. Results of transfer of document to transfer title to goods. Sec. 56. Sec. 57. Effect of acceptance by buyer where seller has delayed performance. Effect of acceptance where seller has not fulfilled his warranties of quality or fitness. RIGHT OF RESCISSION BY BUYER. Sec. 61. In cases of fraud, etc. Sec. 62. In cases of breach of warranty. CHAPTER 12. JUDICIAL REMEDIES OF BUYER AND SELLER FOR BREACH. Sec. 63. Rights of buyer where title has passed. Rights of buyer where title has not passed. Sec. 64. Sec. 65. Rights of seller. APPENDIX A. UNIFORM SALES ACT. APPENDIX B. UNIFORM BILLS OF LADING ACT. APPENDIX C. FORMS. APPENDIX D. QUESTIONS AND PROBLEMS. THE LAW OF SALES OF PERSONAL PART I. PROPERTY FORMATION OF CONTRACT OF SALE. CHAPTER 1. DEFINITION AND GENERAL NATURE. Sec. 1. DEFINITIONS. "A sale of goods is an agreement whereby the seller transfers the property in goods to the buyer for a consideration called the price." "A contract to sell goods is a contract whereby the seller agrees to transfer the property in goods to the buyer for a consideration called the price." "A contract to sell, or a sale may be absolute or conditional." 1 The law which governs contracts to transfer the ownership of goods, and the actual transfer of such ownership, from one person to another for a monetary consideration is called the law of "Sales of Goods," or more briefly, "Sales." The law of sales thus concerns itself in the first place with the contract thereafter to pass a title, in the second place with the actual passing of title itself, and in the third place with the results of the sale, or the 1. Uniform Sales Act, Sec. 1. For text of Uniform Sales Act, and note as to states adopting it, see Appendix A. (17) 3 B.-2 obligations which endure after ownership has been transferred. In any particular transaction one or more of these situations may be wanting, or they may all exist. (1) Thus A may engage with B that A will secure for and sell to B certain wagons which B agrees to buy. Now in such case no transition of ownership has as yet been effected. If A refuses to carry out his contract B has no ownership in or claim against the wagons themselves but is left to his remedy in a suit for damages occasioned by the breach. (2) Or, pursuant to the contract, A may make an actual transfer of ownership to B. He may do this, as we shall find, even though he may perhaps still retain the possession of the wagons for the time being. In such a case titlethat is to say, the ownership of property in the goods-has been transferred; B may claim the wagons as his own, and if A wrongfully refuses to deliver them_or, having delivered, wrongfully retakes them, B may have the aid of the courts to secure his property. This transaction constitutes the sale as distinguished from the contract to sell. A sale need not, however, be preceded by any distinct, preliminary contract such as mentioned, but all the proceedings may consist in one transaction wherein the ownership is transferred and the price paid. Yet even in such case there would usually really be a contract to sell, followed by the sale, though the interval between the two might be almost or quite inappreciable. (3) After B has secured his title there may still be existing contractual obligations. A may have undertaken to do something further to the goods, or in reference to them; or B may have undertaken that A may have the goods again if he, B, does not pay the price |