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Contingent Goods

These are the goods which are also not in existence at the time of contract of sale. The contingent goods are a type of future goods. In this case, the acquisition of goods by the seller depends upon the uncertain contingencies, i.e., upon uncertain events which may or may not happen.

 

Example

Paul agreed to sell to John certain goods, which are to be arrived by a ship. In this case, the contract is for the sale of contingent goods as the availability of the goods depends upon the arrival of the ship.

 

Note: The future goods are neither in existence nor in possession of the seller at the time of contract of sale. Whereas, the unascertained goods are in existence and in possession of the seller at the time of contract of sale

 
Contingent goods
Future goods
They may be existing at the time of agreement to sell
They are not existing at the time of agreement to sell
They would be acquired by the buyers on the happening of a given contingency
They would come into existence on a future date when the manufacturer will produce it.




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