Ascertained, Unascertained and Specific Goods

When a contract of sale is made, it is important to determine the type of goods being sold. The three types of goods that can be identified in a contract of sale are as follows:

1. Ascertained Goods: These are goods that have been identified and agreed upon by both the seller and the buyer. The goods are specific and identifiable. For example, if the buyer agrees to purchase a particular car with a specific VIN number, then the car is considered ascertained goods.

2. Unascertained Goods: These are goods that have not been identified at the time the contract of sale is made. The goods are not specific or identifiable. For example, if a buyer agrees to purchase 100 units of a particular type of product, but the seller has not yet determined which 100 units will be sold, then the goods are considered unascertained goods.

3. Specific Goods: These are goods that are identified and agreed upon by both the seller and the buyer, but they may not be ascertained goods. Specific goods can be either ascertained or unascertained goods. For example, if the buyer agrees to purchase a specific type of product, but the seller has not yet determined which specific units will be sold, then the goods are considered specific goods.

In conclusion, the goods identified in a contract of sale can be categorized as ascertained goods, unascertained goods, or specific goods. It is important for both the seller and the buyer to clearly identify the type of goods being sold to avoid any misunderstandings or disputes.