Sec.8.  When nothing is said at the sale as to the time of delivery, or the time of payment, the buyer is entitled to the goods on payment or tender of the price, and not other wise; for, though he acquires the right of property by the contract of sale, he does not acquire the right of possession, until he pays or tenders the price.  But if the seller delivers the goods absolutely, and without fraudulent contrivance on the part of the buyer, the buyer will hold possession of them.

Sec.9.  But when goods are sold on credit, and nothing is said as to the time of delivery, the buyer is immediately entitled to the possession.  If, however, it is ascertained, before the buyer obtains possession of the goods, that he is insolvent, or so embarrassed as to disable him from meeting the demands of his creditors, the seller may stop the goods as a security for the price.  But if they are stopped without good cause, or through misinformation, the buyer is entitled to the goods, and to damages which he may have sustained in consequence of their stoppage.

Sec.10.  In the sale of a chattel, if the seller has possession of the article, and sells it as his own, he is understood to warrant the title.  A fair price implies a warranty of title; and the purchaser may have satisfaction from the seller, if he sells goods as his own, and the title proves deficient.  But if the possession is at the time in another, and there is no covenant or warranty of title, the party buys at his peril.  It is thought, however, if the seller affirms that the property is his own, he warrants the title, though it is not in his possession.

Sec.11.  With regard to the quality of the thing, the seller is not bound to make good any deficiency, except under special circumstances, unless be expressly warranted the goods to be sound and good, or unless he made a fraudulent representation or concealment concerning them.  The rule is, if there is no express warranty by the seller, nor fraud on his part, and if the article is equally open to the inspection of both parties, the buyer who examines the article for himself, must abide by all losses arising from latent defects equally unknown to both parties.

Sec.12.  But this rule does not reasonably apply to cases in which the purchaser has ordered goods of a certain character, or in which goods of a certain described quality are offered for sale, and, when delivered, they do not answer the description.  There being no opportunity of examining them, there is an implied warranty of the quality.  An intentional concealment or suppression of a material fact, when both parties have not equal access to means of information, is unfair dealing, and renders the contract void.

Sec.13.  As a general rule, each party is bound to communicate to the other his knowledge of material facts, provided he knows the other to be ignorant of them, and they are not open and naked, or equally within the reach of his observation.  Surely the moral law and fair dealing require, in all cases, a full disclosure of all defects within the knowledge of the contracting parties.