20 Liability of Carriers of Passengers for Injuries to Passengers. 183 21 Liability of Carriers of Passengers as Bailees of Baggage of ELEVENTH SUBJECT. Sales. BY SHELLEY B. NELTNOR, D. C. L. PROFESSOR OF THE LAW OF SALES, AGENCY AND NEGOTIABLE INSTRUMENTS AT THE ILLINOIS COLLEGE OF LAW. MEMBER OF THE CHICAGO BAR. DEFINITION AND NATURE. SECTION 1. DEFINITION. A sale is a complete transfer of the full property rights, that is, the title, in the personal property sold by the seller, and made in consideration of the price in money paid by the buyer. At common law, a sale was styled "a bargain and sale of goods," to distinguish it from a contract to sell. Kent's definition of a sale, is a contract for the transfer of property from one person to another. The definition of Benjamin, is to be preferred, he defines a sale, as a transfer of the absolute or general property in a thing for a price in money. The latter definition brings to the attention of the student the two distinct property interests in a thing, the general property right and the special property right. This is of importance in showing the distinction to be made between a sale, and certain other kinds of transfers such as a pledge, and a bailment, if the pledgee for instance transfers to another his interest in the thing pledged, the actual property right in the thing remains in the pledgor. The further element in the definition, that the sale must be for a price in money, is important for if goods are transferred for goods in return, this is not a sale, it is a barter or exchange. SECTION 2. SALES DISTINGUISHED FROM BAILMENTS. A sale is to be distinguished from a bailment, in that in the bailment, the obligation always remains to restore to the bailor, the particular thing transferred 1 2 Kent, 468, 12th Ed. Belden vs. Perkins, 78 Ill., ⚫ Benjamin on Sales, Vol. 1, Sec. 1. 449. |