SALE OP GOODS AND OF LAND (ante). The term sale, though applied in ordinary language to Ilse transfer of real property, properly applies only to the I ranafer of personal property. As to the transfer of real estate, see CONVEYANCE and the titles there cited. To mike a valid sale requires three things: 1. A thing to be sold. Though if one sell a thing which was destroyed at the time of the sale, there is no sale; so if a mistake were made as to the thing sold. 2. A price agreed upon; and this price must be certain, though it may be left to a third person to fix it; it must be fixed in money, or the trans action is a barter. 3. The consent of the parties to the contract, i.e., an agreement on the part of the seller to sell a certain thing to the buyer for a certain prier, and of the buyer to buy the same thing for the same price. In the absence of evidence of a sale on credit, in agreement for instant payment is presumed; in default of which the ven dor may recover the goods. If the goods have been actually delivered, and part pay ment or earLest made by the*seller, the presumption of payment is rebutted; but though earnest be accepted, the vendee cannot take the goods, unless that be a condition of sale, and if he fad to appear within a reasonable time, on request, the vendor may rescind the If. however, the terms of sale expressly agree upon a future payment or delivery, the property vests at once iu the vendee. The vendor cannot taring suit for
the price till lie has made tender, or delivery of the goods. If the price be unpaid, whetter the sale be for cash or not, the vendor has a lien upon the goods for the price while lie keeps possession of them; but he loses his lien by delivering the goods A sale unaccompanied by a delivery is not good against an innocent third purchaser without notice. Delivery is not necessary for the validity of the agreement as between vendor and vendee; but as between the vendor and his creditors, want of delivery is a strong, though not conclusive, evidence of fraud. If the goods be of such kind that delivery is impossible, a iiersonal possession by the vendee is not necessary. Whenever, in a contract of s..le, the parties agree upon the performance of a particular act by either of them, in regard to the object sold, there is a conditional sale. A common instance of it occurs in the case of the so-called "contracts of sale or return" where the vendee receives possession of the chattels, and may either retain them or return them within a time spec itied; and if he do not return them the sale is complete. As to the sale of goods in t en mita, in case of bankruptcy or insolvency of the vendee, while the price is unpaid, see STOPPAGE IN TRANSITU.