APPRAISING THE MARKET OVERT EXCEPTION IN THE SALE OF GOODS LAW: THE NIGERIAN PERSPECTIVE

Abstract

Under that circumstances can the non owner of goods in a Sale of goods transaction transfer good title to the buyer? The law is that no one can give what he does not have. This is encapsulated in the maxim nemo dat quod non habet. This is provided in the Sales of Goods Act, a colonial legacy which is the principal law regulating commercial transactions in Nigeria. The provision seeks to protect the real or true owners of goods against adverse dealing in them by a non owner. However, as with other rules, there are some exceptions one of which concern a sale in a market overt. This article interrogates the meaning of the nemo dat rule and the market overt exception. If highlights the features of the market overt and the rationale behind the rule. It is the position of the paper that this relic of the common law has outlived its usefulness and is no more relevant in the current age. In this light, it is recommended that state legislatures in Nigeria should tinker with the Sales of Goods law in line with the recommendations of the Nigerian Law Reform Commission and in the interest of the consumer buyer.