2 Liability in respect of goods on approval or sale or return.
Where, whether before or after the commencement of this Act—
a
any goods have been delivered to any person (hereafter in this section referred to as “the buyer”) on approval or on sale or return or other similar terms; and
b
an obligation is imposed on the buyer by the terms of any contract, or by any custom, to pay the price of the goods in the event of their being lost or damaged before the property therein would otherwise have passed to the buyer;
the obligation shall be deemed not to extend to loss or damage by war:
Provided that, except in a case where the price of the goods does not exceed twenty-five pounds, this section shall not apply if the loss or damage in the event of which the buyer is liable to pay the price of the goods is expressly related to war by the terms of a contract.