Australian Capital Territory Consolidated Acts

SALE OF GOODS ACT 1954 - SECT 4

For this Act—

        (a)     a thing is done honestly if it is in fact done honestly, whether or not it is done negligently; and

        (b)     what is a reasonable time, a reasonable hour or a reasonable price is a question of fact; and

        (c)     a person is insolvent if the person has ceased to pay debts that arise in the ordinary course of business, or cannot pay debts as they become due, whether or not the person has committed an act of bankruptcy and whether or not the person has become a bankrupt; and

        (d)     goods are in a deliverable state if they are in a state that the buyer would, under the contract, be bound to take delivery of them.