leave them uncommented upon, considering it the wiser course to follow rather than precede the judicial wisdom of the Bench. CHAPTER XXVII. Definition of How property may be transferred. Requisities of contract of sale. BILLS OF SALE. A Bill of Sale is an instrument, or deed, whereby one person grants and transfers to another the property that he may have in certain goods and chattels, and is the usual way of transferring such property. The property in goods and chattels may be transferred by gift and delivery, by deed, or by contract. A parol gift, without delivery, is void. When, however, actual delivery of the property is impossible, or inconvenient, the transfer is made by deed, and is usually called a bill of sale. A contract for sale, if the goods are of the value of £10, or upward, must be evidenced by acceptance of part of the goods, or part payment, or there must be a memorandum in writing, signed by the parties to be charged, or their duly authorized agents, and if such contract of sale is not to be performed within one year, there must be a writing as evidence, whatever may be the amount of it. absolute or Bills of Sale Bills of sale are absolute or conditional- Bills of Sale absolute, if the grantee has immediate conditional. possession, and conditional, when possession by the grantee only takes place on the performance, or non-performance, of some condition. The Bills of Sale Act, 1878 (41 and 42 Vict., c. 31, sects. 3 and 8), enacts that every bill of sale executed on, or after the 1st January, 1879 (whether the Provisions of same be absolute or subject, or not subject Act, 1878. to any trust) whereby the holder or grantor has power, either with or without notice, and either immediately or at any future time, to seize or take possession of any personal chattels, comprised in, or made subject to such bill of sale, must be duly attested and registered as required by the Act, within seven days after the making or giving thereof, and must set forth the consideration for which such bill of sale was given. Sect. 4 Sale includes. of the Act defines a bill of sale, and enacts What a Bill of that it shall include, bills of sale, assignments, transfers, declarations of trust without transfer, inventories of goods with receipt thereto attached, or receipts for purchase monies of goods, and other assurances of personal chattels, and also powers of attorney, authorities, or licenses to take possession of personal chattels as security for any debt, and also any agreement, whether intended or not to be followed by the execution of Definition of personal chattels. any other instrument, by which a right in equity to any personal chattels, or to any charge or security thereon, shall be conferred, but shall not include the following documents that is to say, assignments for the benefit of the creditors of the person making or giving the same, marriage settlements, transfers or assignments of any ship, or vessel, or any share thereof, transfers of goods in the ordinary course of business of any trade or calling, bills of sale of goods in foreign parts or at sea, bills of lading, India warrants, warehouse keepers' certificates, warrants or orders for the delivery of goods, or any other documents used in the ordinary course of business as proof of the possession or control of goods, or authorizing or purporting to authorize, either by endorsement or delivery, the possessor of such document to transfer or receive goods thereby represented. The words personal chattels, mean household furniture, goods, and other articles capable of being completely transferred by delivery, and (when separately assigned or charged) fixtures, and growing crops, but do not include chattel interests in real estate, nor fixtures, except trade machinery when assigned together with a freehold, or leasehold interest, in any land or building, to which they are affixed, nor growing crops, when assigned together with any interest in the land on which they grow, nor shares, or interests, in stocks, funds,or securities of any government, nor in the capital, or property of incorporated or joint stock companies, nor choses in action, nor any stock, or produce upon any farm, or lands, which by virtue of any covenant, or agreement, or of the custom of the country, ought not to be removed from any farm where the same are, at the time of making, or giving such bill of sale. The Act of 1882, puts the same inter- Bill of Sale must pretation upon chattels as the Act of 1878. Every bill of sale must be registered, and also attested, by one or more witnesses, who must be credible, and not a party or parties to the bill. The registration must take place within seven clear days after execution. It must truly set forth the consideration, and must be made in accordance with the form in the schedule of the Act of 1882. It must be made, or given, in consideration of a sum not less than £30, and if these manifold requirements are not properly carried out, the bill is absolutely void as against the grantor and every other party. The Act of 1882 is not retrospective, and only applies to bills of sale given after the 1st November, 1882. be registered. In order to enable a bill of sale to remain Must be registered every a valid security, it must be registered every five years. Р |