Wait & James v Midland Bank (1926)

 

Sellers sold on credit 1250 quarters of wheat from a particular cargo lying in a certain warehouse. The buyers were given delivery orders which were accepted by the warehousekeepers, and they pledged the wheat to a bank. At this stage, no property could pass because no severance had taken place. Later the sellers sold and delivered the remainder of the cargo to other buyers.

 

Held Roche J That the property thereupon passed to the buyers and the pledge was therefore good against the sellers.

 

NB He seems to have assumed that what was required to pass the property was that the goods should become ascertained, rather than that they should be unconditionally appropriated.