Under section 6(2) of the Sale of Goods Act, 1930, a seller may contract to sell goods whose acquisition by him depends upon a happening that may or may not occur. What are such goods commonly called?
Question and options
Under section 6(2) of the Sale of Goods Act, 1930, a seller may contract to sell goods whose acquisition by him depends upon a happening that may or may not occur. What are such goods commonly called?
Specific goods
Ascertained goods
Existing goods
Contingent goods
Answer and explanation
Correct answer: D - Contingent goods
Section 6(2) of the Sale of Goods Act, 1930 allows a contract for the sale of goods whose acquisition by the seller depends on a contingency which may or may not happen; such goods are called contingent goods and form a class of future goods. Specific and ascertained goods are goods identified and agreed upon, and existing goods are already owned or possessed by the seller, so none of them depends on an uncertain event.
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