CA Foundation doubt
Transfer of ownership in case of specific and u ascertained goods answer
Transfer of ownership in case of specific and u ascertained goods answer
Asked by Ritika··1 answer
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Under the Sale of Goods Act, 1930, ownership (property) passes when the parties intend it to (Sec 19). If their intention is not clear, these rules apply: Specific goods: 1. Unconditional contract, goods in deliverable state: ownership passes when the contract is made, even if payment or delivery is postponed (Sec 20). 2. Seller must do something to put the goods in deliverable state: ownership passes once it is done and the buyer is notified (Sec 21). 3. Seller must weigh, measure or test the goods to fix the price: ownership passes once it is done and the buyer is notified (Sec 22). Unascertained goods: - No ownership passes until the goods are ascertained (Sec 18). - After that, it passes on unconditional appropriation of goods of the contract description, in deliverable state, by one party with the other's assent (Sec 23). - Delivery to a carrier without reserving the right of disposal counts as appropriation. Example: if a buyer orders 100 bags of rice from a godown, nothing passes to him until his 100 bags are separated and appropriated to the contract.
Specific goods are identified and agreed upon at the time the contract is made. Unascertained goods are described only by kind or quantity and are not yet separated or identified.
Risk generally passes with ownership. The party who owns the goods at the time of loss or damage usually bears that loss.
Yes, if the seller delivers the goods to a carrier for the buyer and does not reserve the right of disposal, it is treated as unconditional appropriation.
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