Warrant Taking Possession of Price in Forward Sale

Taking possession of price is one of the elements of forward sale; and,according to most jurists, it should be done before separation between two parties takes place. If price is present in cash or in the form of some certain property, it is easy to think of taking possession or not taking possession. In the contemporary commercial relationships, however, this is not usually the case; and this very stipulation may be an obstacle to many transactions.The present writing is to discuss other ways of taking possession so that transactions made as forward sale may not be nullified in respect to taking possession or not taking possession without some reasonable evidence. According to "warrant taking possession", the buyer may, to pay the price, calculate the price out of his due credit with the seller, or he may introduce a guarantee; and, in this case, when the bill or guarantee is realized before separation, taking possession will be realized,even if it is paid in installments. Also, other documents such as cheques,notes, and bills may be used; such cases are not considered as taking possession. To make a new contract such as the debt contract between two parties is not the same as change in the origin of bligation or taking possession. Sometimes also, when conditions are realized, setoff will replace taking possession. Price which should be paid in future may be changed, but the new price should be taken.