Mercantile Law Amendment Act 1856 (19 and 20 Vict. c. 60, sec. 1) – Sale – Ship – Delivery
Where by a regular contract of sale, unqualified by any back-letter or other written agreement, a ship which was in course of construction had been sold and the price paid, but the ship itself not delivered to the buyer, the validity of the sale is not affected, so as to entitle the trustee on the sequestrated estate of the seller to prevent the buyer from obtaining possession of the ship, by the circumstances that the sale was entered into for the purpose of securing to the buyer certain cash advances made by him to the seller, and that the buyer intended to sell the ship upon delivery and retain only so much of the price as should refund him his advances.
Judges:
Lord Chancellor Selborne, Lords Blackburn and Watson
Citations:
[1881] UKHL 734, 18 SLR 734
Links:
Statutes:
Mercantile Law Amendment Act 1856
Jurisdiction:
Scotland
Contract
Updated: 30 June 2022; Ref: scu.636797