Australian Capital Territory Current Acts

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SALE OF GOODS ACT 1954 - SECT 14

Agreement to sell at valuation

    (1)     If there is an agreement to sell goods on the terms that the price is to be fixed by the valuation of a third party and that third party cannot or does not make the valuation, the agreement is avoided, but, if the goods, or a part of them, have been delivered to and appropriated by the buyer, the buyer must pay a reasonable price for them.

    (2)     If the third party is prevented from making the valuation by the fault of the seller or buyer, the party not in fault may maintain an action for damages against the party in fault.



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