Page:United States Statutes at Large Volume 50 Part 1.djvu/56

 75TH CONGRESS , 1ST SESSI ON-CH. 43-MARCH 17, 1937 	31 and the buyer to buy a definite number, weight, or measure of the goods in the mass, and though the number, weight, or measure of the goods in the mass is undetermined. By such a sale the buyer becomes owner in common of such a share of the mass as the number, weight, or measure bought bears to the number, weight, or measure of the mass. If the mass contains less than the number, weight, or measure bought, the buyer becomes the owner of the whole mass and the seller is bound to make good the deficiency from similar goods unless a contrary intent appears. SEC. 7. Destruction OF GO ODS SOLD .-(1) Where the parties pur- port to sell specific goods, and the goods without the knowledge of the seller have wholly perished at the time when the agreem ent is made, the agreement is void. (2) Where the parties purport to sell specific goods, and the goods without the knowledge of the seller have perished in part o r have wholly or in a material part so deteriorated in quality as to be sub- stantially changed in character, the buyer may at his option treat the sale- (a) As avoided ; or (b) As transferring the property in all of the existing goods or in so much thereof as have not deteriorated, and as binding the buyer to pay the full agreed price if the sale was indivisible, or to pay the agreed price for the goods in which the property passes if the sale was divisable 1. SEC. 8. DE STRUCTIO N OF GO ODS CONTR ACTED TO BE SOLD .-(1) Where ther e is a cont ract to sel l specific g oods, and s ubsequently, but befor e the risk passes to the buyer, without any fault on the part of the seller or the buyer, the goods wholly perish, the contract is thereby voided. (2) Where there is a contract to sell specific goods, and subse- quently, but before the risk passes to the buyer, without any fault of the seller or the buyer, part of the goods perish or the whole or a material part of the goods so deteriorate in quality as to be substan- tially changed in character, the buyer may at his option treat the contract- a) As avoided ; or (b) As binding the seller to transfer the property in all of the e x i s t i n g • g o o d s o r i n s o m u c h t h e r e o f a s h a v e n o t d e t e r i o r a t e d, and as binding the buyer to pay the full agreed price if the con- tract was indivisible, or to pay the agreed price for so much of the goods as the seller, by the buyer's option, is bound to transfer if the contract w as divisibl e . SEC. 9. DEFINITION AND ASCERTAI NMENT OF PRICE .--(1) The price may be fixed by the contract, or may be left to be fixed in such man- ner as may be agreed, or it may be determined by the course of deal- ing between the parties . (2) The price may be made payable in any personal property . (3 Where transferring o r promising to transfer any interest in real estate constitutes the whole or part of the consideration for transferring or for promising to transfer the property in goods, this Act shall not apply. (4) Where the price is not determined in accordance with the foregoing provisions, the buyer must pay a reasonable price. What is a reasonable price is a question of fact dependent on the circum- stances of each particular case. ' So in or iginal . Des tructi on of goods sold. Destruction of goods contracted to be sold. THE PRICE The price. Definition and as- certai nment. Payment in person- al property. Transf er of interes t in real estate. If price is not deter- mined.