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The contract of sale can be made for _______ goods.
- a)future
- b)existing
- c)contingent
- d)all of these
Correct answer is option 'B'. Can you explain this answer?
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The contract of sale can be made for _______ goods.a)futureb)existingc...
The Indian Sale of Goods Act, 1930 is a Mercantile Law, which came into ... According to the act, the goods which form the subject of a contract of sale may be either existing goods, ...
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The contract of sale can be made for _______ goods.a)futureb)existingc...
Existing Goods in a Contract of Sale:
In a contract of sale, the goods that are the subject of the agreement must be existing goods. Existing goods refer to goods that are already owned or possessed by the seller at the time the contract is made. These goods are physically in existence and can be identified and delivered to the buyer.
Future Goods in a Contract of Sale:
Future goods are goods that are not yet in existence at the time the contract is made. However, the contract of sale can still be valid if the agreement is for the sale of future goods. In this case, the seller agrees to acquire or produce the goods in the future and then transfer ownership to the buyer.
Contingent Goods in a Contract of Sale:
Contingent goods are goods that may or may not come into existence depending on the happening of a certain event. The contract of sale can also be made for contingent goods, where the sale is contingent upon the occurrence of a specific event.
All of These:
Therefore, the contract of sale can be made for existing goods, future goods, and contingent goods. It is essential that the goods are clearly identified and described in the agreement to avoid any confusion or disputes later on. The Indian Sale of Goods Act, 1930, governs the sale of goods in India and provides regulations for contracts of sale involving existing, future, and contingent goods.
In a contract of sale, the goods that are the subject of the agreement must be existing goods. Existing goods refer to goods that are already owned or possessed by the seller at the time the contract is made. These goods are physically in existence and can be identified and delivered to the buyer.
Future Goods in a Contract of Sale:
Future goods are goods that are not yet in existence at the time the contract is made. However, the contract of sale can still be valid if the agreement is for the sale of future goods. In this case, the seller agrees to acquire or produce the goods in the future and then transfer ownership to the buyer.
Contingent Goods in a Contract of Sale:
Contingent goods are goods that may or may not come into existence depending on the happening of a certain event. The contract of sale can also be made for contingent goods, where the sale is contingent upon the occurrence of a specific event.
All of These:
Therefore, the contract of sale can be made for existing goods, future goods, and contingent goods. It is essential that the goods are clearly identified and described in the agreement to avoid any confusion or disputes later on. The Indian Sale of Goods Act, 1930, governs the sale of goods in India and provides regulations for contracts of sale involving existing, future, and contingent goods.
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The contract of sale can be made for _______ goods.a)futureb)existingc)contingentd)all of theseCorrect answer is option 'B'. Can you explain this answer?
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