...Commercial Transactions: Complete Notes: MacDougall: 2010/2011 Term 1 • These notes are a compilation of my class notes and the course package. I also used Atiyah Sale of Goods Act for clarification at times. • The spelling and grammar below is atrocious, but I couldn't be bothered to fix it. • Good luck! Hopefully some of this is helpful. I. Introduction • This is mostly a common law course, since the SGA merely codifies as closely as possible the existent common law. • US has replaced the SGA with the UCC, which is comprehensive and covers all of commercial law. • The BC SGA also includes some material that is covered in the "Factors Act" in other jurisdictions • BC has the oldest version of the SGA in Canada o close to the original version • At its heart, commercial transactions is about buying and selling goods Property • May be real • or Personal: "choses" o chattels real o Chattels personal ▪ chose in possession (goods), meaning things that are capable of being possessed ▪ chose in action (intangibles), which cannot be possessed or seized physically, like an an account or a debt. • documentary intangibles (ie. a bank note), the document represents the intangible • pure intangible, which does not even have a document to represent it (increasingly common) Property Interests • ownership ...
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