retention of title

retention of title
A seller of goods will often wish to retain ownership of goods until the money for those goods (or even all money owed to him by the buyer) has been paid. In addition he may seek to recover possession of the goods if the buyer becomes insolvent or the goods appear to be otherwise imperilled. If the goods are in their original form, enforcement is relatively easy. However if the goods have been processed or sold, then claiming ownership of mixed goods or the proceeds of sales can be legally problematic.

Easyform Glossary of Law Terms. — UK law terms.

retention of title

Collins dictionary of law. . 2001.

retention of title
A contractual provision by which, in its simplest form, the passing of title in goods supplied under the contract is made conditional on payment of the full purchase price by the buyer. Also known as a Romalpa clause, following the Court of Appeal decision in Aluminium Industrie Vaasen BV v Romalpa Aluminium Limited, the first leading case concerning the device ([1976] 1 WLR 676).
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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