What is Attornment?

The object sold is physically in the possession of a third party and delivery (as above) takes place through a change of intention of the buyer and seller. Before the deed of sale is concluded the third party concerned keeps the object on behalf of the seller, but after the conclusion thereof the intention of the buyer and seller is changed and the third party concerned keeps the object on behalf of the buyer.

Click To Flip the Card

Comments:

Study theme 5: Delivery, transfer of ownership and double sales

navigate_before navigate_next