Part IFormation and Performance of Contracts

1 Sale and Agreement to Sell

(1)A contract of sale of goods 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.

(2)Where under a contract of sale the transfer of the property is to take place at a future time, the contract is an agreement to sell.

2 Implied Undertakings as to Quality

Where goods are bought by description from a seller who deals in goods of that description, there is an implied condition that the goods shall be of merchantable quality.

Part IIRights of Unpaid Seller

3 Unpaid Seller’s Lien

Subject to the provisions of this Act, the unpaid seller of goods who is in possession of them is entitled to retain possession until payment or tender of the price.

Part IIIGeneral

4 Citation

This Act may be cited as the Isle of Man Sale of Goods Act.