SSPN-i Plus

TRANSFER OF PROPERTY


TRANSFER OF PROPERTY

Passing of ownership not necessarily means passing of possession and vice versa.
The time of transfer of property (ownership) have important connotation in sale of goods as it relates with who have to bear the risks on the goods.
Sec 26 - risk prima facie passes with property - owner bear the risk regardless of whether he have possession or not.
Provided - if delivery delayed due to fault of either party, party at fault bear any risk that might occur because of the delay.

Legal consequences as regards to transfer of property, title and risk:
1. When there’s contract of sale, there must be transfer of property - if not - failure of consideration.
2. Consequence as regards to who bear the risk.
3. Determine whether buyer who have not paid full price can keep the goods
4. Problems in time of insolvency of seller or buyer

In the case of a contract for the sale of uncertain goods, the property in the goods can only be transferred to the buyer  after the goods are ascertained (sec 18).
If the contract for sale of ascertained and specific goods, the property is transferred to the buyer at such time as the parties intend it to be transferred (sec 19(1)). However, subject to sec 4(3)

When there is an unconditional contract for the sale of specific goods in a deliverable state, the property in goods passes to the buyer when the contract is made. It is immaterial whether the time of payment of price, or the time of delivery of goods, or both is postponed (sec 20)

Where there is a contract for the sale of specific goods and the seller is bound to do something to the goods for the purpose of putting them into a deliverable, the property does not pass until such thing is done (sec 21)

Where there is a contract for the sale of specific goods in a deliverable state, but the seller is bound to weigh, measure, test or do some other act or thing with reference to the goods for the purpose of ascertaining the price, the property passes after such act or thing is done and the buyer has notice it (sec 22)

Where there is a contract for the sale of unascertained or future goods by description and the goods of that description and in a deliverable state are unconditionally appropriated to the contract, either by the seller with the assent of the buyer or by the buyer with the assent of the seller, the property in the goods thereupon passes to the buyer. Such assent may be express or implied, and may be give either before or after the appropriation is made (sec 23(1). Eg buy online
When the goods are delivered to the buyer on approval or ‘sale or return’ or other similar terms, the property in the goods passes to the buyer:
a)    When he signifies his approval or acceptance to the seller or does any other act adopting that transaction;
b)    If he does not signify his approval or acceptance to the seller but retains the goods without giving notice of rejection upon expiration of the time fixed for the return of the goods, or where no time has been fixed for the return of the goods, upon expiration of reasonable time.


TRANSFER OF PROPERTY TRANSFER OF PROPERTY Reviewed by Kamaruddin Mahmood on 5:21:00 PTG Rating: 5

Tiada ulasan:

Dikuasakan oleh Blogger.