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CSEET · Business Laws and Management · Elements of Law relating to Sale of Goods

Under the Sale of Goods Act, 1930, which of the following is a correct statement about 'specific goods' as distinguished from 'future goods'?

Specific goods are identified and agreed upon when the contract of sale is made, whereas future goods are goods the seller is yet to manufacture, produce or acquire after making the contract. The two terms therefore differ by identification and by the time of the seller's ownership.

  1. ASpecific goods are goods identified and agreed upon at the time a contract of sale is made, while future goods are goods to be manufactured, produced or acquired by the seller after making the contractCorrect
  2. BSpecific goods are goods to be produced by the seller after the contract, while future goods are goods identified at the time of contract
  3. CSpecific goods are goods that are not yet identified, and future goods are goods already owned by the buyer
  4. DSpecific goods and future goods both mean goods that the seller already owns at the time of contract

Explanation

Specific goods are identified and agreed upon when the contract is made. Future goods are those to be manufactured, produced or acquired by the seller after the contract is made. The option reversing these meanings is wrong.

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