Commentary

68.5 Failure to specify in contract

BAILMENT vol 3(1)
| Commentary

68.5 Failure to specify in contract

| Commentary

68.5 Failure to specify in contract

Fourthly, any seller who wants to impose a fiduciary duty to account can (at least in theory)1 specify this in the contract. A seller who has expressly stipulated for the original reservation of title in the goods, but has made no stipulations as to the ownership of their sub-sale proceeds, cannot be conclusively presumed to have intended to exact any such obligation from the buyer2. When trading parties conclude an elaborate commercial contract, that contract must be presumed to contain the whole of their obligations, unless the circumstances clearly indicate otherwise.

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