Transferability and sale of goods
Keyword(s):
In any system of property law a complete specification of rights and duties raises at least two questions. First, allocation of rights and duties inter se between the parties to the transaction; secondly, the rights and duties of the parties to the original transaction against the rest of the world. The traditional common law analysis where a third party wishes to acquire an indefeasible interest in a chattel is to direct the latter to the ‘owner’ and indeed the prerequisite for the enjoyment of most property rights depends upon our ability to acquire it from someone else. Furthermore, inherent in the idea of acquiring an absolute right in property (title) is exclusivity of possession ie superiority over the transferor and third parties.