Types of Goods under "The Sale of Goods Act, 1930"

Goods may be classified into three broad categories

1.        Existing goods: (a) Specific or ascertained goods and (b) Non specific or unascertained goods

2.        Future goods; and

3.        Contingent goods

 

1.  Existing goods (Sec. 6): At the time of sales, if the goods are physically in existence and are in possession of the seller, the goods are called ‘Existing Goods’.

               When the goods are in possession of the seller at the time the contract are called existing goods. Existing goods can be classified into ‘specific (Ascertain) goods or non specific (unascertained).’

We now explain each one.  

 

(a)  Specific or ascertained goods Sec 2(14):

Goods identified and agreed upon at the time of the making of the contract of sale are called ‘specific goods’ [Sec. 2(14)]. It may be noted that in actual purchaser and seller both can easily separate their goods.

 

(b) Non specific or unascertained goods:

The goods, which are not separately identified or ascertained at the time of the making of the contract, are known as ‘unascertained goods.’

In this kind of circumstances the buyer has not seen the goods through any catalogue and brochure.

 

Case Study: In the case of Varley v Whipp, Varley agreed to sell to the Whipp a “second-hand self-binder reaping machine", which quite new and used to cut only 50 or 60 acres. When the machine was delivered, Whipp claimed that it did not correspond with the statement. So, the court held that it was a sale of good by description and Whipp have the right to claim.

 

2.  Future goods (Sec. 2{6}): The goods to which are not present and will be manufactured or produced in future. Here possession could not be transferred because seller has not yet.

 

 

3.    Contingent Goods:

Contingent goods are those when certain event or occurrence may or may not happen.