Types/Classification of Goods Under the Sale of Goods Act, 1930

The Sale of Goods Act, 1930 classifies goods into three main categories based on their existence, ownership, and dependency on future events. These classifications are important for determining the rights and obligations of buyers and sellers.

1. Existing Goods

Existing goods are those that are physically present and owned or possessed by the seller at the time of the contract. They are further categorized into:

(a) Specific Goods (Section 2(14))

• Goods that are specifically identified and agreed upon at the time of the contract.
• Example: A specific car, a particular painting, or a uniquely identified machine.

(b) Ascertained Goods

• Goods that become specifically identified after the contract is made (similar to specific goods but identified later).
• Example: Selecting 10 sacks of rice from a larger lot of 100 sacks after the sale agreement.

(c) Unascertained Goods

• Goods that are not specifically identified or agreed upon at the time of the contract.
• Example: Buying 50 kg of sugar from a bulk quantity without specifying which part of the lot will be delivered.

2. Future Goods (Section 2(6))

• Goods that will be manufactured, produced, or acquired by the seller after the contract is made.
• The ownership of future goods cannot immediately pass to the buyer but is subject to the fulfillment of the contract.
• Example: A farmer agrees to sell the wheat crop that will be harvested next month.

3. Contingent Goods (Section 6(2))

• Goods whose acquisition by the seller depends on the occurrence of a future uncertain event.
• Contingent goods are a subset of future goods.
• Example: A seller agrees to sell goods to a buyer only if a shipment arrives successfully.

Summary Table

These classifications determine the transfer of ownership, rights, and remedies available under the contract for the sale of goods.