Management and Organizational Studies 2275A/B Lecture Notes - Fob (Shipping), Syllogism, The Seller

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

Business law chapter 15: sales and consumer protection. Sale of goods act: statute embodies case law and complements normal rules of contract law, applies to all situations where goods are bought and sold but not to the transfer of real property. Goods tangible items: sales of goods act does not apply to: Services except when it involves the installation of goods. Possession-someone who has control of the good. Title- the ownership of a good: title to goods must actually be transferred in order for the act to apply. If the transaction is not a sale, but is securing a loan, the act does not apply. Requirement of writing: sales of goods over a specified value (-50) must be evidenced in writing in some jurisdictions. Or if there has been part performance. Title and risk: risk follows title. Agreement to sell- title transfers at some future time: common overrides.