market overt

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An open, public, and legally constituted market or fair. When goods were sold in market overt according to the usage of the market, the buyer acquired a good title to the goods, provided he bought them in good faith and without notice of any defect in the seller's title. This was one of the exceptions to the general principle of * nemo dat quod non habet, but it was abolished from 3 January 1995 by the Sale of Goods (Amendment) Act 1994.

Subjects: Law.

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