A sale in market overt is an exception of :
NEMO DAT QUID NON HABET
The general rule nemo dat quod non habet (no one can give a better title than he himself has) is embodied in Sec. 27 of the Sale of Goods Act, 1930: a buyer from a non-owner gets no title.
Sale in market overt, under which a buyer in good faith in an open public market acquired good title even from a seller without title, is a recognised exception to this rule in English law (Sale of Goods Act, 1893). Other exceptions include sale by a mercantile agent, a seller in possession (Sec. 30) and estoppel.
Caveat emptor, passing of risk with property (Sec. 26) and stoppage in transit (Sec. 50) are different principles that the market overt rule does not depart from.
Hence, the answer is Nemo dat quid non habet.
Similar Questions
Quality or fitness of goods for any particular purpose has no ............ .
When transfer of property in goods is to take place at future time or subject to some conditions thereafter to be fulfilled, the contract is called:
The ‘Part delivery’ under section 34 of the Sale of Goods Act, 1930 to be the ‘whole delivery’.
The right to stoppage in transit u/s 46 of the Sale of Goods Act, 1930 available to unpaid seller :
Important Questions from Sales of goods act, 1930
In a contract of sale, there is no implied condition as to quality or fitness for any particular purpose of goods supplied. According to which rule, it is the duty of buyer to see and satisfy whether the goods purchased will be suitable for his purpose or not?
- Which of the following are true statements relating to delivery of goods?
(A). Delivery and payment are concurrent conditions.
(B). Delivery may be actual, symbolic or constructive.
(C). Delivery may be at any time of the day only.
(D). Delivery of wrong quality
Choose the correct answer from the options given below: Quality or fitness of goods for any particular purpose has no ............ .
When transfer of property in goods is to take place at future time or subject to some conditions thereafter to be fulfilled, the contract is called:
The ‘Part delivery’ under section 34 of the Sale of Goods Act, 1930 to be the ‘whole delivery’.
