(1) The rules in insolvency relating to contracts of sale continue to apply
thereto, notwithstanding anything in this Act contained.
(2) The rules of the
common law, including the law merchant, save in so far as they are
inconsistent with the express provisions of this Act, and in particular the
rules relating to the law of principal and agent and the effect of fraud,
misrepresentation, duress or coercion, mistake, or other invalidating cause,
continue to apply to contracts for the sale of goods.
(3) Nothing in this Act
or in any repeal effected by it affects the enactments relating to bills of
sale, or any enactment relating to the sale of goods which is not expressly
repealed by this Act.
(4) The provisions of this Act relating to contracts of
sale do not apply to any transaction in the form of a contract of sale which
is intended to operate by way of mortgage, pledge, charge, or other security.
