Sale of Goods Act, 1930
Q. Explain the term ‘goods’ under
the Sale of Goods Act, 1930.
Ans:- Goods is defined in Section 2 (7) as
‘Every kind of moveable property other than actionable claims and money; and
includes stocks and shares, growing crops, grass and things attached to or
forming part of the land which are agreed to be severed before sale or under
the contract of sale.’ Trademarks, copyrights, patent rights, goodwill,
electricity, water and gar are all considered as goods.
may be classified into various types as under:-
goods – These are goods which are owned and possessed by the seller at the
time of sale. Only existing goods can be the subject-matter of a sale. The
existing goods may be –
Specific goods – These
are goods which are identified and agreed upon at the time of contract of sale
is made. For e.g. a person visit s a Titan showroom and identifies a watch for
Ascertained goods – Though
commonly used as similar in meaning to specific goods, these are the goods
which become ascertained subsequent to the formation of contract of sale. For e.g.
from say 10 Sony T.V. a person identifies the particular T.V.
Unascertained goods – These
are the goods which are not identified and agreed upon at the time of the
contract of sale. They are defined only by description and may form part of a
lot. For e.g. a shopkeeper has a bag containing 50 kg of sugar. He agrees to
sell 10 kg sugar to X out of that bag The 10 kg of sugar is unascertained goods
as they are yet to be identified from the bag containing 50 kg.
Goods – These are goods which a seller does not possess at the time of the
contract but which will be manufactured, or produced, or acquired by him after
the making of the contract of sale. [Section 2(6)]. A contract of present sale
of future goods, though expresses as an actual sale, purports to operate as an
agreement to sell the goods and not a sale. This is because the ownership of a
thing cannot be transferred before that thing comes into existence.
3. Contingent Goods – It is a type of
future goods but these are goods the acquisition of which by the seller depends
upon a contingency which may or may not happen.