(1)Where a person having bought or agreed to buy goods obtains, with the consent of the seller, possession of the goods or the documents of title to the goods, the delivery or transfer by that person, or by a mercantile agent acting for him, of the goods or documents of title, under any sale, pledge, or other disposition thereof, to any person receiving the same in good faith and without notice of any lien or other right of the original seller in respect of the goods, has the same effect as if the person making the delivery or transfer were a mercantile agent in possession of the goods or documents of title with the consent of the owner.
(2)For the purposes of subsection (1) above—
(a)the buyer under a conditional sale agreement is to be taken not to be a person who has bought or agreed to buy goods, and
(b)“conditional sale agreement” means an agreement for the sale of goods which is a consumer credit agreement within the meaning of the M1Consumer Credit Act 1974 under which the purchase price or part of it is payable by instalments, and the property in the goods is to remain in the seller (notwithstanding that the buyer is to be in possession of the goods) until such conditions as to the payment of instalments or otherwise as may be specified in the agreement are fulfilled.
(3)Paragraph 9 of Schedule 1 below applies in relation to a contract under which a person buys or agrees to buy goods and which is made before the appointed day.
(4)In subsection (3) above and paragraph 9 of Schedule 1 below references to the appointed day are to the day appointed for the purposes of those provisions by an order of the Secretary of State made by statutory instrument.
Modifications etc. (not altering text)
C1Power of appointment conferred by s. 25(4) fully exercised: 19.5.1985 appointed by S.I. 1983/1572, art. 2
Marginal Citations