(i) At the Time of Contract

(i) At the Time of Contract Where there is an unconditional contract for the sale of specific goods in a deliverable state, ownership in the goods passes to the buyer when the contract is made. The time of payment of price or time of delivery of goods is immaterial in the matter of transferring the ownership of the goods. eg. ‘B’ selects certain books in a bookshop. The price is settled. ‘B’ arranges to take delivery of books next day through his servant and agrees to pay for the books on the 1st of next month. The books were destroyed by fire in the same evening. In this case, ‘B’ has to bear the loss and pay for the books selected since the ownership has already passed on to ‘B’.