Opinion ID: 2606626
Heading Depth: 1
Heading Rank: 4

Heading: wyoming statutes on sales

Text: Appropriate sections of the Wyoming code include § 34-21-206 (U.C.C. 2-106(a)), defining sale: (a) In this article unless the context otherwise requires `contract' and `agreement' are limited to those relating to the present or future sale of goods. `Contract for sale' includes both a present sale of goods and a contract to sell goods at a future time. A `sale' consists in the passing of title from the seller to the buyer for a price (section 2-401 [§ 34-21-246]). A `present sale' means a sale which is accomplished by the making of the contract. § 34-21-246 (U.C.C. 2-401), passing of title: (a) Each provision of this article with regard to the rights, obligations and remedies of the seller, the buyer, purchasers or other third parties applies irrespective of title to the goods except where the provision refers to such title. Insofar as situations are not covered by the other provisions of this article and matters concerning title become material the following rules apply: (i) Title to goods cannot pass under a contract for sale prior to their identification to the contract (section 2-501 [§ 34-21-249]), and unless otherwise explicitly agreed the buyer acquires by their identification a special property as limited by this act [§§ 34-21-101 to XX-XX-XXXX]. Any retention or reservation by the seller of the title (property) in goods shipped or delivered to the buyer is limited in effect to a reservation of a security interest. Subject to these provisions   , title to goods passes from the seller to the buyer in any manner and on any conditions explicitly agreed on by the parties; (ii) Unless otherwise explicitly agreed title passes to the buyer at the time and place at which the seller completes his performance with reference to the physical delivery of the goods, despite any reservation of a security interest and even though a document of title is to be delivered at a different time or place; and in particular and despite any reservation of a security interest by the bill of lading:   , and § 34-21-222 (U.C.C. 2-305), open price: (a) The parties if they so intend can conclude a contract for sale even though the price is not settled. In such a case the price is a reasonable price at the time for delivery if: (i) Nothing is said as to price; or (ii) The price is left to be agreed by the parties and they fail to agree; or (iii) The price is to be fixed in terms of some agreed market or other standard as set or recorded by a third person or agency and it is not so set or recorded. (b) A price to be fixed by the seller or by the buyer means a price for him to fix in good faith. Many years ago, Justice Blume made a succinct and expressive comment in terminology not really changed by U.C.C. provisions of present law: It would seem to us that the term `sales' or `when sold' are terms too plain to be construed away by a court. Thus we find in    In re Frank's Estate, 154 Misc. 472, 277 N.Y.S. 573, where it is stated that `a sale in legal nomenclature, is a term of precise legal import, both at law and in equity, and has well defined legal signification, and has been said to mean at all times a contract between parties to give and to pass rights of property.'    There must be, it is stated, a consideration or price, a seller, a purchaser and a delivery of the thing sold. State v. Yellowstone Park Co., 57 Wyo. 502, 121 P.2d 170, 171, cert. denied 316 U.S. 689, 62 S.Ct. 1280, 86 L.Ed. 1760 (1942).