MGT393H5 Chapter Notes - Chapter 14: Caveat Emptor, Implied Warranty, Artificial Insemination
Document Summary
A contract of sale is a contract whereby the seller transfers or agrees to transfer the property in the goods to the buyer for a money consideration, called the price. The act applies to both sales and agreements to sell. Sale = transfer of ownership/title in goods to the buyer at the moment the contract is made. Agreement to sell = transfer is deferred until a future time - either a specified date or an indefinite date that depends on the fulfillment of a particular requirement. Goods: distinction is made between contracts for the sale of goods and contracts for services, for instance, those for work and materials. Distinction is not always an easy one to make. Ex. the plaintiff was infected with hiv as a result of artificial insemination performed by her physician. Trial jury found the physician negligent and awarded money damages, but the finding of negligence was overturned on appeal.
