THE AUTHORS OF THE PRINCIPAL ARTICLES IN THIS VOLUME ARE AS FOLLOWS:- Sale of Goods.-W. BowSTEAD, Barrister-at-Law, Author of "Law of Agency." Sale of Land (England).-W. BowsTEAD, Barrister-at-Law. Sale of Land (Scotland).-RICHARD BROWN, Writer, Glasgow. Savings Banks.-ALEX. CARGILL, Edinburgh Savings Bank. Secretary.-LAWRENCE R. DICKSEE, M.Com., F.C.A., Professor of Accounting, University of Birmingham. Shipbuilders' Accounts.-FRANCIS G. BURTON, A.S.A.A. Solicitors' Book-keeping.—Messrs. KAIN, BROWN, and Co., Chartered Accountants. Solicitors' Book-keeping (Scotland).-GEORGE LISLE, C.A., F.F.A., Author of "Accounting in Theory and Practice." Stock Exchange.-W. GORDON CAMPBELL (late H.M. Legal Vice-Consul and Registrar of the Supreme Consular Court at Constantinople). Stockbrokers' Book-keeping and Accounts.-J. BOLAM JOHNSON, C.A. Stocks and Stocktaking.-JOHN A. WALBANK, A.C.A., Newcastle. Succession. W. BowSTEAD, Barrister-at-Law. Suretyship Insurance.-D. M. CARMENT, Assistant Manager, The Law Guarantee and Trust Society Limited, London. Teinds.-ALEXANDER ROSS, S.S.C. Theatre Accounts. W. G. BLAKEMORE, F.C.A. { W. D. ELGAR, A.S.A.A. Tithes.-THOROLD GOSSET, Barrister-at-Law. Tramway Accounts.—JAMES DALRYMPLE, C.A., Accountant and Deputy General Manager Glasgow Corporation Tramways. Trust and Trustee (England).—W. BowSTEAD, Barrister-at-Law. Trust and Trustee (Scotland).-CHARLES R. A. HOWDEN, Advocate, Author of "Law of Trusts." Trust Accounts.-WILLIAM ANNAN, C.A. 135353 Trustees' Accounts (under Bankruptcy and Deeds of Arrangement, England).—SIDNEY S. Unclaimed Money.-J. MACBETH FORBES, Bank of Scotland. Vital Statistics.—ARTHUR NEWSHOLME, M.D., F.R.C.P., Author of "Vital Statistics." Wills (Scotland).-DAVID ANDERSON, Advocate. Wine Merchants' Accounts.-CHARLES WILLIAMSON, M.A., C.A. Sale of Goods Act 1893.-The law relating to the sale of goods was codified by the Sale of Goods Act 1893 (56 & 57 Vict. c. 71), which extends to Scotland. The references in this article are to sections of that Act. In the application of the Act to Scotland the term "action" includes condescendence and claim and compensation; "bailee" includes custodier; "defendant" includes defender, respondent, and claimant in multiplepoinding; "goods" includes all corporeal movables except money; "lien" includes right of retention; "plaintiff" includes pursuer, complainer, claimant in a multiplepoinding, and defendant or defender counterclaiming; and a breach of warranty is deemed to be a failure to perform a material part of the contract (sec. 62 (1)). Sale and Agreement to Sell.-A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to VOL. VI 1 the buyer for a money consideration called the price, and there may be a contract of sale between one part owner and another (sec. 1 (1)). Where under a contract of sale the property in the goods is transferred from the seller to the buyer the contract is called a sale; but where the transfer of the property in the goods is to take place at a future time, or subject to some condition thereafter to be fulfilled, the contract is called an agreement to sell, and becomes a sale when the time elapses or the conditions are fulfilled subject to which the property in the goods is to be transferred (sec. 1 (3) and (4)). A contract of sale may be absolute or conditional (sec. 1 (2)). The term "goods" includes emblements, industrial growing crops, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale, and all chattels personal other than things in action and money (sec. 62 (1)). The provisions of the Act relating to contracts of sale do not apply to any transaction in the form of a contract of sale which is intended to operate by way of mortgage, pledge, charge, or other security (sec. 61 (4)). Capacity of Parties.-Capacity to buy and sell is regulated by the general law concerning capacity to contract, and to transfer and acquire property; provided that where necessaries are sold and delivered to an infant, or minor, or to a person who by reason of mental incapacity or drunkenness is incompetent to contract, he must pay a reasonable price therefor, the term necessaries meaning goods suitable to the condition in life of such infant or minor or other person, and to his actual requirements at the time of the sale and delivery (sec. 2). A contract by an infant or minor for the purchase of goods other than necessaries is, under the Infants Relief Act 1874, absolutely void, and a contract for the sale of goods is voidable at the option of the infant. A contract by a person of unsound mind for the sale or purchase of goods other than necessaries is valid and binding on him if the other contracting party was not aware of his mental incapacity, or if the contract was made during a lucid interval; but it is voidable by the person of unsound mind if the other contracting party was aware of his incapacity. Formalities of the Contract.-A contract for the sale of goods of the value of ten pounds or upwards is not enforceable by action unless the buyer accepts part of the goods sold, and actually receives the same, or gives something in earnest to bind the contract, or in part payment, or unless some note or memorandum in writing of the contract is made and signed by the party to be charged, or his agent in that behalf; and these provisions apply to every such contract, notwithstanding that the goods may be intended to be delivered at a future time, or may not at the time of the contract be actually made, procured, or provided, or fit or ready for delivery, or some act may be requisite for the making or completing thereof, or rendering the same fit for delivery (sec. 4 (1) and (2)); but the provisions of the section do not apply to Scotland (sec. 4 (4)). A note or memorandum, in order to satisfy the requirements of the section, must contain (1) the names of the parties, or descriptions from which they may be identified; (2) the particulars of the goods sold and the terms of the contract, including the price, if the price has been fixed; must be signed by the party to be charged, or his duly authorised agent; and must be made before the commencement of the action on the contract, though not necessarily at the time when the contract is made. It is not necessary that it should be signed by both parties, or that the signature should be in any particular part of the document, so long as it appears to have been intended to apply to the whole document. A signature by initials, or by |