Section 554
Provisions Relating To Transfer Of Ownership Of Goods
(1) If there
is a contract for the sale of any specific or certain goods, the
transfer of such goods shall be made as provided for in the contract,
and failing such provision in the contract, the transfer shall be made
according to the terms and conditions of the contract, intention of
the parties, ascertained by having regard the conduct of the parties,
and the relevant circumstances.
(2) Except as otherwise provided for in the contract, if a
contract is concluded for the sale of any specific goods in a
deliverable state, the parties shall be deemed to have the intention
of transferring them when the contract is concluded or upon
payment of the price of the goods.
(3) If a contract is concluded for the sale of any specific
goods in a deliverable state and the buyer has to take measurement,
weight, make examination of the goods or to perform some acts to
determine the price of such goods, such goods shall not be
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transferred until the buyer performs such acts and gives information
thereof to the buyer within a reasonable time.
(4) Except as otherwise provided for in the contract, a
contract shall be deemed to have been concluded so that the goods
sold or to be sold shall be transferred in the place where such goods
are situated.
(5) Except as otherwise provided for in the contract, the
buyer shall be deemed to have the title or ownership of the goods at
the time of the transfer of the goods to the buyer.