Transfer of property


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Transfer of property

  1. 1. 18.1 1.1 TRANSFER OF PROPERTY Presented by: Raja SharadPresented To: Shailendra SatishD.K. Panday Ramayan Ravi
  2. 2. 18.2 1.2 TRANSFER OF PROPERTY Section 18-25 What does „property of goods‟ mean?When does the property in the goods paasfrom the seller to the buyers? When does the property pass from seller to thebuyer?In a sale of goods, the property in them istransferred to the buyer at such times as theparties to the contract intend to be transferred.
  3. 3. 18.3 1.3 Rules as Regards Ascertaining Intention (sec.20-24) Specified goods in deliverable state(sec.20)Goods are said to be in a deliverable statewhen they are in such state that the buyerswould under the contract be found to takedelivery of them.
  4. 4. Specific goods not in a 18.4 1.4 deliverable state (Sec.21) Something has to be done by the seller to put them in a deliverable state, property passes only when such thing is done, and the buyer has notice thereof. Where there is a contracr for the sale ofspecific goods in a deliverable state but selleris bound to weigh, test or do some other thingwith reference to them, for ascertaining theprice, the property does not pass till such actor thing is done and the buyer has notice ofit.(sec.22)
  5. 5. 18.5 1.5 Unascertained or future goods (sec.23) There is a contract for the sale ofunascertained goods, property in the goods innot transferred to the buyer unless and until the goods are ascertained.(sec18)
  6. 6. 18.6 1.6 Sale “On Approval” or Sale or Return” basisWhere goods are delivered to the buyer „onapproval‟ or on „Sale or return‟ or similar terms, the property passes to the buyer:
  7. 7. 18.7 1.7 Transfer of title by Non- owners (sec.27-30)General rules as to transfer oftitle (sec27)The general rule is that only the owner ofgoods can transfer a good title. No one can givebetter title than he himself has. This rule isexpressed by the maxim “Nemo dat quod nonhabet,” which mean “that no one can give whathe himself has not.”
  8. 8. 18.8 1.8 Exceptation of the rule Sale by mercantile agent.(sec.27)It as an agent having in the customary course ofbusiness as such agent authority either to sellgoods for the purpose of sale, or to buy goods, orto raise money on the security of goods. Sale by a joint-owner.(sec.28)Several joint owners of goods has the solepossession thereof,with the consent of theothers, any purchaser from such person, forvalue without notice at the time, of the seller’swant of authority to sell, acquire a good titlethereof against the other joint owners.
  9. 9. 18.9Sale by a person in possessionunder a voidable contract.(sec.29)A person who has obtained possession ofgoods under a contract which is voidable onthe ground offraud, misrepersentation, coercion, or undueinfluence, can convey a good title, providedthe sale takes place before the voidablecontract is avoided.
  10. 10. 18.101.10Saleby a seller in possession ofgoods after sale.(sec.30)A seller having sold goods, continues inpossession thereof or title to the goods, thetransfer by such person or by a mercantileagent acting for such person, of the same, byway of sale will paas a good title to thetransferee, if such latter person has acted ingood faith and without notice of the previoussale.
  11. 11. 18.11 Sale by buyer in possession of goods.(sec.30 (2))A person having bought or agreed to buyobtains, with the consent of theseller, possession of the goods or of thedocuments of title to the goods. The deliveryof such person, of the goods ordocuments, pledge or other disposition thereofwill be valid and effective, if the personreceiving the same, acted bonafide andwithout notice of the seller‟s lien, if any.
  12. 12. 18.121.12Sale by an unpaid seller.(sec.54 (3)) An unpaid of goods who has exercised his right of the lien or stoppage in transit can, even though the ownership in them has passed to the buyer, resell the goods and convey a valid to another buyer, though no notice of re-seller has been given to the original buyer.
  13. 13. 18.13