THE SALE OF GOODS ACT 1930
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(i) FUTURE GOODS means goods to be manufactured or produced or acquired by the seller after making the contract of sale. A contract for the sale of future goods is always an agreement to sell. It is never actual sale because a man cannot transfer what is not in existence. Example 2: P agrees to sell to Q all the milk that his cow may yield during the coming year. This is a contract for the sale of future goods. Example 3: T agrees to sell to S all the oranges whichW be produced in his garden this year. It is contract ofsale of future goods, amounting to 'an agreement to sel:
CONTINGENT GOODS The acquisition of which by the seller depends upon an uncertain contingency (uncertain event) are called contingent goods Contingent goods also operate as 'an agreement to sell' and not a 'sale' so far as the question of passing of property to the buyer is concerned. In other words, like the future goods, in the case of contingent goods also, the property does not pass to the buyer at the time of making the contract. Example: A agrees to sell to B a Picasso painting provided he is able to purchase it from its present owner. This is a contract for the sale of contingent goods
(C) Delivery-its forms and derivatives: Delivery means voluntary transfer of possession from one person to another Forms of Delivery: (i) Actual delivery: When the goods are physically delivered to the buyer. (ii) Constructive delivery: When it is effected without any change in the custody or actual possession of the thing as in the case of delivery by attornment acknowledgement) e.g., where a warehouseman holding the goods of A agrees to hold them on behalf of B, at A's request.
(ii) Symbolic delivery: When there is a delivery of a thing in token of a transfer of something else, i.e., delivery of goods in the course of transit may be made by handing over documents of title to goods, like bill of lading or railway receipt or delivery orders or the key of a warehouse containing the goods is handed over to buyer.
(D) "Document of title to goods" includes bill of lading, dock-warrant, warehouse keepers certi cate, whar ngers' certi cate, railway receipt, multimodal transport document, warrant or order for the delivery of goods and any other document used in the ordinary course of business as proof of the possession or control of goods. (E) Mercantile Agent: It means an agent having in the customary course of business as such agent authority either to sell goods or to consign goods for the purpose of sale or to buy goods or to raise money on the security of the goods. Examples of such kind of agents are auctioneers, factors, brokers, etc.
(F) Property: 'Property' here means ownership' or general property. In every contract of sale, the ownership of goods must be transferred by the seller to the buyer, or there should be an agreement by the seller to transfer the ownership to the buyer. (G) Insolvent: A person is said to be insolvent when he ceases to pay his debts in the ordinary course of business, or cannot pay his debts as they become due, whether he has committed an act of insolvency or not. (H) Price: Price means the money consideration fora sale of goods. (Quality of goods includes their state or condition.
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