Sft- WARRANTY. 



delivery of the horse or money paid, the horse 

 dies in the vender's custody, still he is entitled to 

 the money, because by the contract the property 

 is in the vendee. 



But, although the right oi property is thus ab- 

 solutely transferred by the contract, yet, unless 

 payment be expressly postponed to a future day, 

 the buyer will not be entitled to possession^ with- 

 out tendering the stipulated price.* 



Warranty, 

 " We now come to the important doctrine of 

 Warranty^ which is thus summed up by Lord 



* The principles of the Law of Scotland, in regard to the 

 constitution of the contract of sale, differ considerably from 

 those of the Law of England, as stated in the preceding 

 paragraphs. There is no statutory enactment in Scotland 

 similar to the statute of fraud in England, and matters are 

 left to be ruled by the common law, according to which, the 

 contract or hargain is fully completed so as to prevent resil- 

 ing, without either earnest, delivery, or note of sale. But 

 although a simple verbal bargain is thus binding on the 

 parties, so that neither can draw back, the other being will- 

 ing and able to perform his part, the property of the thing 

 sold is not passed without delivery, contrary to the English 

 rule, which holds the property to have passed immediately 

 on the bargain being completed. The practical result, how- 

 ever, of the two laws, as to this last-mentioned particular, is 

 nearly the same, as the rules in England as to the right to 

 obtain possession, place matters on almost the same footing 

 as the principle of the Law of Scotland as to the property 

 not being passed till delivery. 



