Meaning and Definition of Goods
According to Section 2(7) of the Sale of Goods Act, 1930 "Goods" means every kind of movable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale".
Kinds of Goods
Kinds of goods are as follows
1 Existing Goods :
Existing goods are those, which are exist possessed and owned by the seller at the time of making of the contract of sale.
Example :
'X' sells two Motorcycles to 'Z' which are standing in front of his door. here in this example motorcycles are exiting goods, which are owned and possessed by 'X'.
2 Specific Goods
According to Section 2(14) of the Sale of Goods Act 1963 "Specific goods" means goods identified and agreed upon at the time a contract of sale is made.
Example
X has three mobile phones Nokia, Samsung, and Micromax. X offers to sell Samsung , Y accepts to purchase it . Here Nokia phone is considered Specific Goods.
3 Future Goods
According to Section 2 (6) of the Sale of Goods Act, 1963 "future goods" means which are to be manufactured or produced or acquired by the seller after the making of the contract of sale .
Example :
X agrees to sell Z the grass to be ;grown on his land next month.
4 Contingent Goods :
Contingent goods means goods the acquisition of which by the seller depends upon a contingency of happening or non-happening of an event.
Example
A agrees to sell a Property to B if he wins the case . A's title is subject to the contingency of winning and hence the Property is called 'Contingent goods'.
5 Unscertained goods :
Unascertained goods are those goods which are not identified at the time of making of the contract of sale are called 'Unascertained Goods'
Example :
X has 5 horse , he offers to sell 2 horse to 'Y' but without specifying which of them to be delivered. Y accepts to purchase. It is sale of unascertained goods.
See also
1) Distinction between Sale and Agreement to Sell
2) Difference/ Distinction between Bailment and Contract of sale
3) What are the cases in which Injunction can be refused ?
4) Meaning, Definition and Essential Elements of Bailment.
5) When is Surety Discharged from his Liability
According to Section 2(7) of the Sale of Goods Act, 1930 "Goods" means every kind of movable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale".
Kinds of Goods
Kinds of goods are as follows
1 Existing Goods :
Existing goods are those, which are exist possessed and owned by the seller at the time of making of the contract of sale.
Example :
'X' sells two Motorcycles to 'Z' which are standing in front of his door. here in this example motorcycles are exiting goods, which are owned and possessed by 'X'.
2 Specific Goods
According to Section 2(14) of the Sale of Goods Act 1963 "Specific goods" means goods identified and agreed upon at the time a contract of sale is made.
Example
X has three mobile phones Nokia, Samsung, and Micromax. X offers to sell Samsung , Y accepts to purchase it . Here Nokia phone is considered Specific Goods.
3 Future Goods
According to Section 2 (6) of the Sale of Goods Act, 1963 "future goods" means which are to be manufactured or produced or acquired by the seller after the making of the contract of sale .
Example :
X agrees to sell Z the grass to be ;grown on his land next month.
4 Contingent Goods :
Contingent goods means goods the acquisition of which by the seller depends upon a contingency of happening or non-happening of an event.
Example
A agrees to sell a Property to B if he wins the case . A's title is subject to the contingency of winning and hence the Property is called 'Contingent goods'.
5 Unscertained goods :
Unascertained goods are those goods which are not identified at the time of making of the contract of sale are called 'Unascertained Goods'
Example :
X has 5 horse , he offers to sell 2 horse to 'Y' but without specifying which of them to be delivered. Y accepts to purchase. It is sale of unascertained goods.
See also
1) Distinction between Sale and Agreement to Sell
2) Difference/ Distinction between Bailment and Contract of sale
3) What are the cases in which Injunction can be refused ?
4) Meaning, Definition and Essential Elements of Bailment.
5) When is Surety Discharged from his Liability
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