BARGAIN, SALE AND EXCHANGE. 



BARGAIN, SALE AND EXCHANGE. 



A BARGAIN or mutual agreement or understanding as to Bargain, 

 terms between tlie parties, is implied in every contract for 

 a Sale or Exchange (a). 



A Sale is a transfer of goods for money, and an Ex- Sale and ex- 

 change is a transfer of goods for other goods by way of c^i^^^ge- 

 barter, and in either case the same rules of law are pre- 

 scribed for regulating the transaction {b). 



Therefore a bargain and sale of personal chattels is an Bargain and 

 agreement to sell, followed and completed by actual sale(c). '^^^^• 



In order to transfer property by gift, there must either Transfer of 

 be a deed or instrument of gift, or there must be an actual Pyop^^^'ty ^7 

 delivery of the t/tijig to the donee. So, where the plain- ° 

 tiff claimed two Colts under a verbal gift made to him by 

 his father twelve months before his death, which how- 

 ever remained in his father's possession until his death, it 

 was held, that the property in them did not pass to the 

 son {(l). 



A contract may be either executed, as if A. agrees to Executed and 

 change Horses with B., and they do it immediately ; or e-'^ecutory 

 it may be executory, as if they agree to change next ' " - 



week [e). 



If a person buy a Horse and a Pony together for 100/., Entire con- 

 the contract is entire, as there is no means of determining 

 the price of each (/). 



But if he should purchase them both together, agreeing Severable 

 to pay 30/. for the Pony, and 70/. for the Horse, the con- contract, 

 tract would be severable ; and if the seller's title to the 

 Pony should fail, the buyer w^ould be obliged to keep and 

 pay for the Horse (./). 



Where a bargain is made by word of mouth, all that Verbal con- 

 passes may sometimes be taken together as forming parcel 

 of the contract, though not always, because matter talked 

 of at the commencement of a bargain may be excluded by 

 the language used at its termination ( g) . 



But if the contract be in the end reduced into writing. Written con- 

 nothing which is not found in the writing can be con- ^^'^ ' 

 sidered as part of the contract [g). 



(«■) See 2 Steph. Com. 67. Aid. 551. 



[h) 2 Steph. Com. 66; Anou., 3 {c) 2 Steph. Com. 57. 



Salk. 157; Chit. jun. Contr. 11th (/) See Ilincr v. Bradley, 22 



ed. 353. Pick. Eep. 459 (Amer.); Johnson v. 



(c) Com. Dig. Bargain and Sale Johnson, 3 B. & P. 162 ; Story on 



(A.). Sales, 164, 190. 



(rf) Irons V. HmaUpkcc, 2 Barn. & (v) Knln v. OW, 2 B. & C. 634. 



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