Why is it important to ascertain the time at which the property in goods passes from the seller to the buyer?

Determining when property in goods passes from the seller to the buyer is crucial for establishing legal ownership and responsibility for the goods. It affects the parties' rights and obligations, including risk of loss, liability for damages, and the ability to transfer or encumber the goods. This clarity is essential in commercial transactions to prevent disputes and ensure proper fulfillment of contractual agreements. Additionally, it has implications for tax liabilities and compliance with legal requirements.