TRANSFER OF OWNERSHIP

meaning TRANSFER ALL RIGHTS TO THE PROPERTY FROM SELLER TO BUYER TRANSFER OF OWNERSHIP DIFFERENT FROM TRANSFER OF POSSESION TRANSFER OF POSSESION NEED NOT NECESSARILY MEAN A TRANSFER OF OWNERSHIP

ACTION AGAINST THIRD PARTIES ONLY OWNER HAS RIGHT OF ANY PROCEEDING AGAINST THIRD PARTY.

RISK FOLLOWS OWNERSHIP AFTER OWNERSHIP, RISK ALSO TRANSFER TO THE BUYER RULE APPLIED “RISK PRIMA FACIE’’ MEANS RISK FOLLOW OWNERSHIP WHETHER POSSESSION HAS TRANSFER OR NOT IN CASE OF SELLER INSOLVENCY AFTER SALE BUT BEFORE DELIVERY OF GOODS, NOT RIGHT TO RETAIN TO SELLER

IF THE DELIVERY HAS BEEN DELAYED THROUGH FAULT , THEN RISK IS ON FAULTY PARTY ( CASE STUDY REGARDING 30 TONS OF APPLE JUICE CONTANIRE’S DELAYED DELIVERY ) DEMBY HAMILTON &CO. LTD V/S BARDEN

INSOLVENCY & SUIT FOR PRICE INSOLVENCY MAY BE OF SELLER OR BUYER. TO KNOW OFFICIAL RECIEVER OF GOODS. INSOLVENCY DEPENDS ON OWNERSHIP OF GOODS.

RULES FOR PASSING PROPERTY 1.GOODS MUST BE ASCERTAINED 2.INTENTION OF PARTIES

GOODS MUST BE ASCERTAINED SECTION 18 WHERE THERE IS A CONTRACT FOR SALE OF UNASCERTAINED GOODS, NO PROPERTY IN THE GOODS IS TRANSFERRED TO THE BUYER UNLESS & UNTILL THE GOODS ARE ASCERTAIINED

INTENTION OF THE PARTIES CASE STUDY APPLEBY V/S MYERS CASE REGARDING SELLING OF DAMAGED MACHINERY

TRANSFER OF OWNERSHIP OR PASSING OF PROPERTY A.TIME WHEN THE PROPERTY CHANGES HANDS B.RESERVATION OF PROPERTY IN ASCERTAINED GOODS

A.TIME WHEN THE PROPERTY CHANGES HANDS IN CASE OF CONTRACT, TRNSFER OF OWNERSHIP DEPENDS ON AGREEMENT IN WHICH PARTIES AGREED THAT WHEN TRANSFER TAKE PLACE. IN ABSENCE OF AGREEMENT, TRANSFER OF OWNERSHIP WILL DEEMED TO BE AFFECTED IN A SALE CONTRACT. TRANSFER OF OWNERSHIP DEPENDS ON TYPES OF GOODS ASCERTAINED GOODS UNASCERTAINED GOODS GOODS SENT ON APPROVAL

1.PASSING OF PROPERTY IN ASCERTAINED GOODS WHEN GOODS IN DELIVERABLE STATE WHEN GOODS NEED TO BE PUT IN DELIVERABLE STATE WHEN SELLER HAS TO DO SOMETHING FOR ASCERTAINED THE PRICE

1. PASSING OF PROPERTY AT THE TIME OF CONTRACT DELIVERABLE STATE IS THAT STATE THAT BUYER WOULD UNDER THE CONTRACT BE BOUND TO TAKE DELIVERY OF GOODS. PROPERTY IS TREATED AS TRANSFERRED TO THE BUYER WHEN CONTRACT IS MADE. EVEN DELIVERY AND PRICE IS POSTPONED AT THAT TIME.

PASSING OF PROPERTY DELAYED BEYOND THE DATE OF THE CONTRACT 1.GOODS ARE NOT IN DELIVERABLE STATE 2.PRICE TO BE ASCERTAINED BY SOMETHING

GOODS NOT IN DELIVERABLE STATE SELLER DO SOMETHING TO MAKE IN DELIVERABLE STATE UNDERWOOD LTD. V/S BURGH CASTLE BRICK &CEMENT SYNDICATE

PRICE ASCERTAINED BY WEIGHTING BEFORE ASCERTAINING PRICE RISK IS ON THE SELLER ZAGURY V/S FURUELE