Transfer of Property and its Significance in Commercial Transactions in Nigeria

Abstract

This article is an examination of the transfer of property and its significance in commercial transactions in Nigeria. However, for a better understanding of this topic, its related concepts such as the meaning of contract for the sale of goods, classification of goods, the concept of property, and the distinction between property and possession are examined. Thereafter, a thorough examination of the transfer of property and its significance is considered. Particularly, attention will be focused on the transfer of goods forming part of a bulk in Nigeria and England as well as in the United States of America. The classification of goods is paramount as it is pivotal in determining when property passes and the significance of such passage in a contract of sale of goods. This topic is important as we engage daily in either the buying or selling of goods.