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Which of the following are not a part of existing goods?
- a)Specific goods
- b)Ascertained goods
- c)Contingent goods
- d)Unascertained goods
Correct answer is option 'C'. Can you explain this answer?
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Which of the following are not a part of existing goods?a)Specific goo...
Explanation:
Existing Goods are those goods which are already in existence and are owned by the seller. These goods can be transferred to the buyer by way of sale or exchange. Existing goods can be classified into four categories:
a) Specific Goods: These goods are identified and agreed upon at the time of the contract of sale.
b) Ascertained Goods: These goods are identified and agreed upon at the time of the contract of sale, but their delivery is postponed to a later date.
c) Contingent Goods: These goods are those whose acquisition or ownership depends upon the happening of a contingency, which may or may not happen.
d) Unascertained Goods: These goods are not identified or agreed upon at the time of the contract of sale.
Therefore, the correct answer is option 'C' which states that Contingent Goods are not a part of existing goods.
Existing Goods are those goods which are already in existence and are owned by the seller. These goods can be transferred to the buyer by way of sale or exchange. Existing goods can be classified into four categories:
a) Specific Goods: These goods are identified and agreed upon at the time of the contract of sale.
b) Ascertained Goods: These goods are identified and agreed upon at the time of the contract of sale, but their delivery is postponed to a later date.
c) Contingent Goods: These goods are those whose acquisition or ownership depends upon the happening of a contingency, which may or may not happen.
d) Unascertained Goods: These goods are not identified or agreed upon at the time of the contract of sale.
Therefore, the correct answer is option 'C' which states that Contingent Goods are not a part of existing goods.
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Which of the following are not a part of existing goods?a)Specific goo...
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Which of the following are not a part of existing goods?a)Specific goodsb)Ascertained goodsc)Contingent goodsd)Unascertained goodsCorrect answer is option 'C'. Can you explain this answer?
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