ABSTRACT
[24.01] It was seen in Chapter 23 that the basic assumption of a sale of goods is that the goods will be exchanged for the price (see para 23.16 ), in which case the seller is secure in the knowledge that he will have either his goods or his price (see Chap 2). On the other hand, the demands of the market place will frequently indicate that a supplier by way of sale or bailment should relinquish possession of the goods before payment. Leaving aside the general question of security (see Chap 25), the purpose of this chapter is to compare the relative legal strength in the position of a supplier weighing the following alternative strategies:
To retain possession until paid, relying on his possessory rights as an unpaid seller (see paras 24.02–20 ); or
To relinquish possession by way of sale or bailment and instead rely on a right to recover possession in the event of default, what might be termed his ‘ownership’ rights (see paras 24.21–48 ).
