- Commercial Law Summary Notes!

What's in the Commercial Law Summary Notes?

Table of Contents for Commercial Law Summary Notes

1. Introduction.. 4

A. How to use Cram Notes. 4

B. Abbreviations. 4

2. Sale of Goods and Implied Terms. 5

A. Threshold Question Does the Sale of Goods Act apply. 5

i. Is it a sale of goods. 5

1) Definition. 5

2) Distinction between sale of goods, and provision of services. 5

3) Examples. 5

B. Have any implied terms been excluded. 6

i. Consumer Sales. 6

C. Is there a breach of implied undertakings. 6

i. Condition right to sell 6

ii. Warranty quiet possession. 7

D. Was there a Sale by Description. 7

i. Was the sale by description. 7

ii. Did the goods correspond with the description. 7

E. Were the goods Merchantable. 8

i. Were the goods bought by description. 8

ii. Does the seller deal in goods of that description. 8

iii. Are the goods of merchantable quality. 8

1) Consumer sale (Statutory) 8

2) Commercial sale (Common Law) 10

iv. Does the proviso apply did the buyer examine the goods. 11

F. Did the Buyer make known the particular purpose and rely on the seller. 11

i. Was the purpose sufficiently particular and made known. 11

ii. Was there a particular idiosyncrasy known only to the buyer. 12

iii. Did the buyer rely on the sellers skill and judgment. 13

iv. Were the goods supplied in the course of a business. 14

v. Are the goods reasonably fit for the particular purpose. 14

vi. Does the proviso apply did the buyer rely on the patent or trade name. 14

G. Has the buyer signalled acceptance of goods. 15

i. Has the buyer examined the goods. 15

ii. Has the buyer intimated acceptance, done any act inconsistent with sellers ownership, or retained them without intimating rejection. 15

H. Remedies. 15

3. The passing of Risk, Possession and Title to Goods. 15

A. Background - Types of Goods. 15

i. Future goods. 15

ii. Specific goods. 15

iii. Ascertained goods. 16

iv. Unascertained goods. 16

v. Existing goods. 16

B. Has Title passed Presumptions as to when Title passes. 16

i. Definitions. 16

ii. General rule. 16

iii. Sale of specific goods. 17

1) Unconditional contract 17

2) Seller is bound to do something to put goods into deliverable state. 17

iv. Goods on sale or return basis. 17

1) Is it on a sale or return basis. 18

2) Time when title passes. 18

3) Has there been a return of goods. 18

v. Unascertained or future goods. 19

1) Was there an unconditional appropriation. 19

2) Was there transmission to a carrier. 19

3) Was there assent. 19

C. Exceptions to presumption of Title Nemo Dat Rule & Exceptions. 20

i. Nemo dat rule. 20

ii. Statutory exceptions. 20

1) Owners conduct 20

2) Voidable title rule. 20

3) Seller in possession. 21

4) Buyer in possession. 21

D. Exceptions to presumption of Title Reservation of Title. 22

i. Subsales and tracing of proceeds. 22

ii. Situations where reservation of title clauses fail 23

E. Exceptions to presumption of Title Finders Keepers situations. 23

F. Has Risk passed Presumptions as to Risk. 23

i. Risk prima facie passes with property. 23

G. Has there been Possession, Delivery or Abandonment. 24

i. Possession. 24

ii. Delivery. 24

iii. Abandonment 24

H. Did possession pass under a Bailment. 24

i. Indicia of Bailment 24

ii. Sub-bailment 25

iii. Responsibility for loss. 25

iv. Attornment 25

v. Mutuum.. 26

vi. Bailment as contrasted with. 26

1) Agency. 26

2) Sale. 26

3) Licence. 26

4. Buyer and Sellers Rights & Obligations. 26

A. Sellers Rights & Obligations. 26

i. Delivery. 26

ii. Remedies Against Buyer 27

1) Action for price. 27

2) Damages for non-acceptance. 27

3) Instalments. 28

iii. Remedies Against Goods. 28

1) Lien. 28

2) Stoppage in transit 29

3) Right of resale. 29

B. Buyers Rights & Obligations. 29

i. Right to reject 29

1) Instalment deliveries. 30

ii. Right to examine. 30

iii. Remedies. 30

1) Action for price. 30

2) Damages for non-delivery. 30

3) Damages from sub-sale. 30

4) Breach of warranty. 31

5) Special damages. 31

5. Agency, Mercantile Agents, and Authority. 31

A. Creation of agency relationship.. 31

B. Mercantile agents. 32

i. Entrustment 32

ii. Ordinary course of business. 33

iii. Buyer in good faith. 33