Lpc Commercial Law Sale of Goods

OUTCOME | REFERENCE | 1. Advise on the types of commercial contract that businesses enter into on a day to day basis; 2. Advise on the terms needed in a sale of goods contract in order to protect the seller’s position in respect of price, payment and delivery; 3. Apply simple terms in a sale of goods contract dealing with price, payment and delivery; 4. Advise on the principal remedies available to the unpaid seller of goods; 5. Identify the terms which need to be included in a retention of title clause in order for it to work and also other terms which may be included, and advise on the effectiveness of the latter; 6. Advise on the practical application of a retention of title clause. | |

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General Notes
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What is Sale of Goods?

* Sale of Goods = s. 2 (1) SGA 1979 - ….a contract by which the seller transfers or agrees to transfer the property in goods to the buyer for a money consideration, called the price.

* Definition of a Sale = s. 2 (4) SGA 1979 – Where under a contract of sale the property in the goods is transferred from the seller to the buyer the contract is called a sale.

The Price:

* Definition of PRICE = S.8 SGA 1979

* (1) The price in a contract of sale may be fixed by the contract, or may be left to be fixed in a manner agreed by the contract, or may be determined by the course of dealing between the parties.

* (2) Where the price is not determined as mentioned in subsection (1) above the buyer must pay a reasonable price.

* (3) What is a reasonable price is a question of fact dependent on the circumstances of each particular case.

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DELIVERY OF GOODS
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SELLER MUST