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@thecatspjs wrote:

um .. I don't disagree with that in terms of being relevant for considerations of breach of contract...

 

"ownership" and establishing at what point who owns what is a slightly different matter I think

 

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ownership passes when the parties intend it to pass. However, where no mention is made of this in the agreement (and there rarely ever is!), then it will pass at the point at which the contract to buy/sell the item is made (s.18, Rule 1, Sale of Goods Act 1979).

the contract is made when you agree to sell and he agrees to buy. The cash or goods passing over is the performance of the contract, so in theory, title to the item could pass before any payment is actually made. This is why it is important to agree that ownership passes when payment is made.