15.4 Meaning and Types of Goods

Goods = every kind of movable property other than actionable claims and money. The three- way map: Class Meaning Example Existing goods (owned/possessed by the seller at contract) Specific (identified and agreed at contract); Ascertained (identified later); Unascertained/generic (out of a described mass) "My scooter, chassis no. X"; 50 bags out of this godown's lot; "100 bags of cement, ex- warehouse" Future goods To be manufactured, acquired or grown by the seller after contract This season's paddy crop; the factory's next run Contingent goods A species of future goods — acquisition contingent on an uncertain event Goods to arrive only if the ship arrives