A contract for sale of goods to be delivered at a future date shall be...
**Valid Contract for Sale of Goods**
A contract for the sale of goods to be delivered at a future date is considered valid, even if the seller already has possession of the goods. This means that the contract is legally enforceable and both parties are obligated to fulfill their respective obligations under the contract.
**Explanation:**
1. **Definition of a Contract:** A contract is an agreement between two or more parties that creates legally binding obligations. In the case of a sale of goods, a contract is formed when the buyer and seller agree on the essential terms of the sale, such as the price, quantity, delivery date, and any other relevant details.
2. **Future Delivery of Goods:** In some cases, the parties may agree that the delivery of the goods will occur at a future date, even if the seller already has possession of the goods. This could be due to various reasons, such as the need for additional time to prepare the goods for delivery or to accommodate the buyer's schedule.
3. **Transfer of Ownership and Risk:** In a contract for the sale of goods, the ownership and risk of the goods generally pass from the seller to the buyer at the time of delivery. However, even if the seller has possession of the goods at the time of the contract, the parties can agree that ownership and risk will transfer at a future date specified in the contract. This does not invalidate the contract.
4. **Enforceability of the Contract:** A contract for the sale of goods to be delivered at a future date is still considered valid and enforceable because it meets the necessary requirements for a contract. These requirements include an offer, acceptance, consideration, and an intention to create legal relations. As long as these elements are present, the contract is legally binding.
5. **Performance of the Contract:** Once the contract is formed, both parties are obligated to fulfill their respective obligations. The seller must deliver the goods in accordance with the terms of the contract, and the buyer must accept and pay for the goods as agreed. If either party fails to perform their obligations, the other party may have legal remedies available to them, such as seeking damages or specific performance.
In conclusion, a contract for the sale of goods to be delivered at a future date is considered valid, even if the seller already has possession of the goods. This is because the contract meets the necessary requirements for a valid contract and creates legally binding obligations for both parties.
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