THE LAW OF HOKSES. 



PART I. 



COXTRAOTS CONCERNING HORSES, &c. 



CHAPTER I. 



BUYING, SELLING AND EXCHANGING ; THE REQUISITES OF 

 THE STATUTE OF FRAUDS ; DELIVERY AND PAYMENT, 

 AND THE LAW AS TO SUNDAY DEALING. 



Bargain, Sale and Exchange. 



A BARGAIN or mutual agreement or understanding as to Bargain. 

 terms between the parties, is implied in every contract for 

 a sale or exchange («). 



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

 is a transfer of goods for other goods by way of barter, and change. 

 in either case the same rules of law are, generally speaking, 

 prescribed for regulating the transaction (b). 



Previously to the Sale of Goods Act, 1893 (56 & 57 Vict. Sale and 

 c. 71), a contract of sale was termed either an " executed " agi'^'^m^"* '<> 

 or " executory " contract according to whether its effect was 

 to transfer the property or right of possession in its subject- 

 matter, or merely to agree to do so (c) . But by section 1 of 

 that Act the expressions " sale " and " agreement to seU " 

 are substituted for those terms. The enactment in question 

 is as follows : — 



(1) " A contract of sale is a contract whereby the seller 

 transfers or agrees to transfer the property in goods to the 

 buyer for a money consideration, called the price. There 

 may be a contract of sale between one part-owner and 

 another. 



(a) See 2 Steph. Com. 120. 430. 



(S) 2 Bl. Com. 446, 447 ; Anon., {c) See 2 Steph. Com. 112. 



3 Salk. 157; Chit. Contr. 12th ed. 



n. B 



