Types of Goods 📦

Not all goods are the same. Some exist now. Some will exist later. Some... might exist!

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1. Existing Goods ✅

Goods that physically exist and belong to the seller at the time of contract.

Sub-types:

• Specific Goods: Identified and agreed upon (e.g., "This red car VIN12345").
• Ascertained Goods: Identified after contract (e.g., "100 kg rice from my warehouse").
• Unascertained Goods: Not yet separated (e.g., "100 kg rice" - not specified which 100kg).

Example: You point at a laptop in a showroom and say "I want this one". → Specific Existing Goods.

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2. Future Goods 🔮

Goods to be manufactured or produced or acquired by the seller after the contract.

Examples:

• A farmer sells his next season's wheat crop (Not yet grown).
• A company takes order for custom-made furniture (Not yet made).

Contract Type: Always Agreement to Sell (Cannot be a Sale because goods don't exist yet).

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3. Contingent Goods 🎲

Future goods where production/acquisition depends on a contingency (uncertain event).

Example:

• "I will sell you mangoes if it rains this month."
• If no rain, no mangoes. No contract.

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Quiz Time! 🎯

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💡 Final Wisdom: "You can sell a hen (Existing). You can sell unborn eggs (Future). But you cannot own eggs before the hen is hatched!" 🐣

Next up: Conditions & Warranties - Promises and Guarantees! 🤝