https://www.taxtmi.com/caselaws?id=175220 Property in unascertained shares passed when the certificates and signed blank transfers were delivered and accepted, because the shares became ascertained goods and the sale was complete under the Contract Act. The sellers therefore retained no lien or rescission right against later holders; their remedy was against the cheque or for the price. Rule C of the Bombay Stock Exchange, which required return of the shares on dishonour and dealt with resale consequences, regulated breach and damages only. It did not make delivery conditional, postpone transfer of property, or supply the express stipulation required to preserve a rescissory right. en-us Mon, 01 Mar 1926 00:00:00 +0530 Sat, 14 Nov 2015 15:16:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175220 Property in unascertained shares passed when the certificates and signed blank transfers were delivered and accepted, because the shares became ascertained goods and the sale was complete under the Contract Act. The sellers therefore retained no lien or rescission right against later holders; their remedy was against the cheque or for the price. Rule C of the Bombay Stock Exchange, which required return of the shares on dishonour and dealt with resale consequences, regulated breach and damages only. It did not make delivery conditional, postpone transfer of property, or supply the express stipulation required to preserve a rescissory right. Case-Laws Indian Laws Mon, 01 Mar 1926 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175220