United_Kingdom_commercial_law Knowpia

United Kingdom commercial law is the law which regulates the sale and purchase of goods and services, when doing business in the United Kingdom.

History edit

The Guildhall, London was the administrative centre of London's medieval trade. Its most famous inhabitant, mythologised in the 19th century play, was Dick Whittington and His Cat who came when he heard that "London streets are paved with gold".

Foundations edit

Personal property edit

Contracts edit

Commercial contracts

Agency edit

In the case of Watteau v Fenwick,^[1] Lord Coleridge CJ on the Queen's Bench concurred with an opinion by Wills J that a third party could hold personally liable a principal who he did know about when he sold cigars to an agent that was acting outside of its authority. Wills J held that "the principal is liable for all the acts of the agent which are within the authority usually confided to an agent of that character, notwithstanding limitations, as between the principal and the agent, put upon that authority." This decision is heavily criticised and doubted,^[2] though not entirely overruled in the UK. It is sometimes referred to as "usual authority" (though not in the sense used by Lord Denning MR in Hely-Hutchinson, where it is synonymous with "implied actual authority"). It has been explained as a form of apparent authority, or "inherent agency power".

Hely-Hutchinson v Brayhead Ltd [1968] 1 QB 549
Creation and authority of agents
Disclosed and undisclosed agency
Agent duties and rights
Termination of agency

Sale of goods edit

Sale of Goods Act 1979 edit

Sale of Goods Act 1979, the primary statute applicable to the sale of goods.

Property passing and delivery edit

Title retention clause

Terms, acceptance and rejection edit

Remedies and duties edit

Bills of exchange and banking edit

Assignment and receivables edit

International sales edit

United Nations Convention on Contracts for the International Sale of Goods
Free alongside ship contract
Free on board contract
Cost, insurance, freight contract

Commercial credit and security edit

Possessory security edit

Non-possessory security edit

Guarantees edit

Insurance law edit

Insolvency law edit

Notes edit

^ [1893] 1 QB 346
^ e.g. GHL Fridman, 'The Demise of Watteau v Fenwick: Sign-O-Lite Ltd v Metropolitan Life Insurance Co' (1991) 70 Canadian Bar Review 329

References edit

L Sealy and RJA Hooley, Commercial Law: Texts, Cases and Materials (4th edn OUP, Oxford 2008)
Roy Goode, Commercial law (3rd edn Penguin, London 2004)