Elementary Principles of the Law of Pennsylvania
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Any object recognized as property may 5e the sub- ject of sale and purchase. But as a general rule this property must be either (a) in actual or (b) in poten- tial existence, and (c) must be definitely described and seriarated from a mass.
FORMATION OF CONTRACT OF SALE IO23 Actual Existence. — There can be no actual sale of a thing which has no existence, and if the price has been paid, it may be recovered back again. Thus, the contract is void, if A sells to B a horse which, unknown to both A ...and B was dead at the time of the bargain.
But there may be an executory contract for the sale of a thing the title to which is not yet acquired (3 Pa., 208, 24 Pa., 14, and 43 Pa., 2,7)- Thus, A may con- tract to sell to B property in the hands of his agent abroad, and the sale will be executed as soon as B acquires possession.
Potential Existence. — But the thing need not have an actual existence. It is sufficient if the thing has a potential existence (subject of Equity). In other words, a hope or expectation, founded on a pres- ent right of possession, of having things to sell may be the object of a contract of sale.
What to read after Elementary Principles of the Law of Pennsylvania?
You can find similar books in the "Read Also" column, or choose other free books by Vale, Ruby R. (Ruby Ross), B. 1874 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Any object recognized as property may 5e the sub- ject of sale and purchase. But as a general rule this property must be either (a) in actual or (b) in poten- tial existence, and (c) must be definitely described and seriarated from a mass.
FORMATION OF CONTRACT OF SALE IO23 Actual Existence. — There can be no actual sale of a thing which has no existence, and if the price has been paid, it may be recovered back again. Thus, the contract is void, if A sells to B a horse which, unknown to both A ...and B was dead at the time of the bargain.
But there may be an executory contract for the sale of a thing the title to which is not yet acquired (3 Pa., 208, 24 Pa., 14, and 43 Pa., 2,7)- Thus, A may con- tract to sell to B property in the hands of his agent abroad, and the sale will be executed as soon as B acquires possession.
Potential Existence. — But the thing need not have an actual existence. It is sufficient if the thing has a potential existence (subject of Equity). In other words, a hope or expectation, founded on a pres- ent right of possession, of having things to sell may be the object of a contract of sale.
What to read after Elementary Principles of the Law of Pennsylvania?
You can find similar books in the "Read Also" column, or choose other free books by Vale, Ruby R. (Ruby Ross), B. 1874 to read onlineMoreLess
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