What is the current state of the law on conveyance of personal property in England and Wales?

In Forrer v. Nash, 35 Beav. 167, the law bearing on the subject is laid down by the Master of the Rolls in the words following: “I am of opinion that when a person sells property which he is neither able to convey himself nor has the power to compel a conveyance of it from any other person, the purchaser, as soon as he finds that to be the case, may say, I will have nothing to do with it.’ The purchaser is not bound to wait to see whether the vendor can induce some third person (who has the power) to join in making a good title to the property sold.”