________means an act involving the selection and earmarking or separat...
Appropriation of goods
Appropriation of goods refers to the act of selecting and earmarking or separating goods with the intention of using them in the performance of a contract of sale. It is an important concept in the field of contract law and is closely related to the transfer of ownership and risk in a sale transaction.
Explanation:
When two parties enter into a contract of sale, it is necessary to determine which specific goods will be transferred from the seller to the buyer. This process is known as the appropriation of goods. The seller must clearly identify and set apart the goods that are intended to be transferred to the buyer.
Key Points:
Here are some key points to understand the concept of appropriation of goods:
1. Selection of Goods: The first step in the appropriation of goods is the selection of specific goods that will be transferred to the buyer. This selection can be based on various factors such as quantity, quality, and specifications.
2. Earmarking or Separation: Once the goods have been selected, they need to be earmarked or separated from the seller's stock. This is done to ensure that the selected goods are not mixed up with other goods and can be easily identified.
3. Intention: The act of appropriation requires the intention of using the selected goods in the performance of the contract of sale. Both the seller and the buyer must have a mutual understanding and agreement regarding the specific goods that will be transferred.
4. Transfer of Ownership and Risk: Appropriation of goods is closely related to the transfer of ownership and risk in a sale transaction. Once the goods have been appropriated, the ownership and risk associated with the goods are transferred from the seller to the buyer.
5. Legal Consequences: The act of appropriation has legal consequences. It establishes the rights and obligations of the parties involved in the contract of sale. It also determines the point at which the buyer becomes responsible for the goods and when the seller's liability ends.
In conclusion, appropriation of goods is an essential step in a contract of sale. It involves the selection and earmarking or separation of goods with the intention of using them in the performance of the contract. It is important for both the buyer and the seller to clearly understand and agree on the specific goods that will be transferred in order to avoid any confusion or disputes in the future.
________means an act involving the selection and earmarking or separat...
- Appropriation of goods means selecting and earmarking or separating goods with the intention of using them to fulfill a contract of sale.
- This involves identifying specific goods from a larger stock that are to be delivered under the contract.
- The goods must be appropriated with the mutual consent of both the buyer and the seller.
- Once the goods are appropriated, they become specific goods, and the ownership may transfer depending on the terms of the contract.