This document defines key terms related to goods under the Sales of Goods Act in India. It discusses that goods refer to all movable property except actionable claims and money. Goods can be existing, future, or contingent. Existing goods are specific, ascertained, or unascertained depending on whether they are identified and agreed upon. Future goods will be manufactured or acquired later, while contingent goods depend on an uncertain event for the seller to acquire them. The document provides examples and differences between future and contingent goods.

1. “Goods” as per Sales of Goods Act
Amulya Nigam
Assistant Professor
Jamnalal Bajaj School of Legal Studies
Banasthali Vidyapith

2. GOODS
' Section 2(7)- Goods' means every
kind of moveable property and includes
stock and shares, growing crops, grass,
and things attachedto or forming part of
the land, which are agreed to be severed
before sale or under the contract of sale.
Actionable claims and money are not
included in the definition of goods.
Goods include every kind of moveable
property other than actionable claim or
money. Example - goodwill, copyright,
trademark, patents, water, gas, and
electricity are all goods and may be the
subject matter of a contract ofsale.
The test is if the property on shifting
its situation, does not lose its character,
the said property shall be movable and
fall within the definition of `Goods`.
ACTIONABLE CLAIM:- It
means which can beenforced through
the courts of Law, e.g. debt due.
MONEY:- means the legal tender
i.e. the currency of the country but
not old coins coins.

4. Existing Goods, means the goods ,which are either owned
or possessed by the seller at the time of contract of
sale. They are of 3 types:
a)Specific goods
a)Ascertained goods
a)Unascertained
goods

5. (a)Specific Goods:
(b)The goods, which are identified and
agreed upon by the parties at the time of
contract of sale.
(c)It should be noted that the goods must
be both identified and agreed upon.
•Unascertained Goods:
•These are the goods, are not identified
and agreed upon at the time of the
contract of sale.
•These goods are merely described by
the parties at the time of contract of sale.
•Ascertained Goods: There are the
goods, which are identified after the
formation of contract of sale. When the
un-ascertained goods are identified and
agreed upon by the parties, the goods are
known as ascertained goods.

6. Future Goods
Goods to be manufactured,
produced or acquired by the seller
after the making of the contract of
sale are called 'future goods' [Sec.
2(6)]. These goods may be either
not yet in existence or be in
existence but not yet acquired by
the seller.
A agrees to sell to B all the milk that
hiscow may yield during the
coming year. This is a contract for
the sale of future goods.
Future goods cannot be sold, but
there can only be an agreement to
sell.

7. Contingent Goods
Though a type of future
goods, these are the goods
the acquisition of which by
the seller depends upon a
contingency, which may or
may not happen [Sec. 6 (2)].
(a)A agrees to sell to B a
specific rare painting
provided he is able to
purchase it from its present
owner. This is a contract for
the sale of contingent goods.
A agrees to sell the goods
loaded on the ship “Titanic”,
which is coming from London
to Bombay. The ship may or
may not arrive. So, these
goods will be called as
contingent goods.

8. Difference between Future goods and Contingent Goods
S. no. Basis Future Goods Contingent Goods
1 Meaning Goods that are yet to be
manufactured, produced or
acquired by the seller after
making Contract of Sale.
Goods, the acquisition of which by
the seller depends upon a
contingency.
2 Element of
uncertainty
Does not depent upon uncertain
event.
Depend upon uncertain event.
3 Scope It does not include contingent
goods due to the element of
uncertainty.
They are wider in scope and include
future goods.
4. Effect of
Contract
Where by a contract of Sale, the
seller purports to effect a
present sale of future goods,
the contract operates as an
“agreement to sell” (Sec 6 (3)).
There may be a ‘contract for sale’ of
goods, the acquisition of which by
the seller depends upon a
contingency which may or may not
happen (Sec 6 (2)).

9. Thank You
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