House of Representatives has passed into second reading a Bill for an Act to repeal the Sales of Goods Act of 1893 with a view to enacting the Sale of Goods Act 2016.
The bill seeks to repeal the Sale of Goods Act 1893 and enact Sales of Goods Bill 2016 to provide for the regulation of sales of goods in Nigeria and for other related matters.
Debating on the general principles of the bill, its sponsor, Hon. Lawal Abubarkar Garba said that the Sale of Goods Act became operational in Nigeria under the statute of general application doctrine which was the legislation of general application in force in the United Kingdom before January 1, 1990.
Garba hinted that the principal statute regulating sales of goods in Nigeria was the Sales of Goods Act 1893 (a statute that is 123 years old this year).
The lawmaker further said that the objectives of the proposed legislation was to take care of modern commercial transactions of the 21st Century society and beyond by providing for rules and delineating rights and liabilities of parties in transactions in an electronic environment.
He explained that the bill was to provide an opportunity for the development of a contemporary legislation on a very important area of human endeavour.
The proposed bill is divided into six parts.
Part 1 deals with the current legal terminologies in commerce while part 2 deals with provisions on the effect of a contract.
Part 3 deals with performance of a contract while part 4 provides for the rights of an unpaid seller against the goods.
Part 5 deals with actions for breach of contracts while part 6 consists of supplementary provisions like execution of implied terms, sales by auction, repeal, savings and the citation.
After thorough deliberation, the bill was consequently passed into second reading and committed to the House Committee on Commerce for further legislative inputs.


Ad:See How you can turn $500 into $10,000 Click HERE For Details.
SHARE