SALE OF GOODS is a contract by which the seller, in consideration of a price, trans fers the property in the goods to the purchaser. Where the consideration is not money, but goods, the contract is called exchange or barter. The law on the subject is not the frame in England and Scotland. In England, when the bargain is struck, and the sale Mates to specific goods—that isigoods already made, and, existing, and identified—the property vests at once in the purchaser, so that in the event of any damage or destruction' happening to the goods, the loss is that of the purchaser and not of the seller, even though the goods have not been delivered, and whether the price has been paid or not. The contract may be made either by word of mouth or by writing; but when the price exceeds £10, the statute of frauds enacts that the contract shall not be binding unless it is in writing. If, however, the buyer shall have accepted part of the goods sold, and actithlly received the same, or if he shall have given something in earnest to bind the bargain, or in part payment, then a verbal contract will be the price exceeds £10. Many nice questions have occurred and constantly recur as to what amounts to an acceptance and delivery of the goods, so much so, that the general policy of restricting the proof of the contract to writing in has been much complained -Of years; and efforts have been made, but as yet in vain, to repeal the statute of frauds, winch, it is said, encourages rather than discourages When a contract of :toile is made, the duty of the seller is to deliver the goods as soon as the buyer has per formed all the conditions agreed upon. if no time was specified for delivery, then ho
must deliver the goods in a reasonable time. In general, if nothing is agreed to the con trary, the seller need not deliver till the price is paid; but he must do so if the bargain was, that delivery was to take place before payment; in other 'worth, if the sale was on credit. On the other hand, it is the duty of the buyer to accept goods and pay for them. If either party fail at any stage in his performance of the duties arising out of .the contract, the other may bring an action which varies according to the nature of the ;breach of contract. One valuable right of the seller, when he has sent his goods to the ..buyer, and they are not delivered, is to stop them in tran'8itu. • Stoppage in trdwitu is chiefly resorted to when the seller hears of the 'bankruptcy of the buyer after he has sent him goods. The law regulating the sale of goods by agents (q.v.) or documentary titles is contained in the factory acts. 1823-25-42-77. See FACTOR. The chief differ ence between the laws of England and Scotland is that in Scotland no writing is neces sary to make the contract binding. whatever the price; and that property in the goods does not pass until they are actually or constructively delivered. See Paterson's Com pendium, 2d ed. as. 520-544. •