Vous êtes sur la page 1sur 12

Goods comprise all kinds of only movable (not immovable) property, other than the actionable claims and

money. It, however, includes stocks and shares, standing trees, growing crops, grass, and other things attached to or forming part of the land (and not the land itself, as it is an immovable property), which are agreed to be severed (cut) from the land before the sale, or under the contact of sale. Here, the element of the agreement of severance from the land is of essence. Further, the items like goodwill, copyright, trademark, patents, water, gas, electricity, also fall under the category of goods. But, under the English law, the stocks and shares are not expressly included in the category of goods.

Money is expressly excluded from the category of goods, because the price, in all sale transactions, is paid in terms of money. Further, as money comprises only legal tenders (i.e. the Indian currency notes of the denominations of Rs 2 to Rs 1,000, under circulation in the home country alone), and not the coins. Therefore, the old coins can be sold and purchased, as this item falls within the category of goods. Similarly, even foreign currency (notes) can be sold and purchased as goods, because these do not fall in the category of the legal tenders, which comprise only the currency notes under circulation within the home country only.

Actionable claims have been expressly excluded from the category of goods, because actionable claims are not such things which a person can make any use of. It can, instead, be claimed by a person only through filing a legal case in the Court of law. Thus, the outstanding debts will fall under the category of actionable claims, which cannot be classified as goods.

A document of title to goods is any document which is used as a proof of the possession or control of goods, transferable by endorsement or by delivery Documents of title to goods, under Section 2 (4) are: (i) Railway Receipt, (ii) Warrant or Order for the delivery of goods, (iii) Bill of Lading, (iv) Dock Warrant, (v) Warehouse Keepers Certificate, (vi) Wharfringers Certificate, and (vii)Any other document used in the ordinary course of business as a documents of title to goods.

Goods may be classified under the following three broad categories:

(a) Existing Goods (b) Future Goods (c) Contingent Goods

Existing Goods [Section 6]

Goods owned or possessed by the seller, at the time of the contract, are existing goods (Section 6). Goods possessed but not owned, refers to such goods which are in the possession of the agent of the owner of the goods, or are in the possession of the pledgee of the goods, who are only in the possession of the goods but none of them own the goods.

Existing Goods (Contd.) Contd.


The existing goods may be further sub-divided into the following categories: (i)Specific goods, as defined under Section 2 (14), are such goods which are identified and agreed upon, at the time of entering into a contract of sale itself. Ascertained goods, though generally understood as being a synonym of the specific goods, the subtle difference between these two terms is that while the specific goods are identified and agreed upon at the time of entering into a contract of sale itself, the ascertained goods are such goods which have become ascertainable or are ascertained only after the contract of sale has already been entered into earlier. (ii) Generic or unascertained goods refer to such goods which are indicated by way of their description, and which are not specifically identified

Future Goods

Future goods means such goods which is yet to be manufactured, produced or acquired by the seller after entering into the contract of sale. [Section 2(6)]

Contingent Goods

Contingent goods are such goods, the acquisition whereof by the seller is dependent upon a certain contingency, which may happen or may not happen. Thus, contingent goods may be said to be a part (kind) of the future goods.

The term Price refers to the money (monetary) consideration for the sale of goods. Thus, as consideration is an essential part of any contract, price is an integral part of every valid contract of sale also. Further, in case the price of the goods is not already fixed, or is not capable of being fixed, the contract of sale concerned will be treated as void ab initio, due to the absence of the element of consideration, as per Section 25 of the Indian Contract, unless certain conditions, stipulated under the same Section 25 are satisfied.

The following are the rules and mode of fixing the price of goods [Section 9]

(i) It may be fixed by way of the contract itself; or (ii) It may be agreed to be fixed in a manner provided by the contract, for example by a valuer; or (iii) It may be fixed (determined) by the course of dealings between the parties (i.e. seller and buyer); or (iv) In other cases, the borrower will be bound to pay a reasonable price (or generally the market price, for the goods purchased.

Section 10 provides that: (i)If the price is to be fixed by the valuer, and the valuer does not fix the price of the goods involved, the agreement of sale becomes void, except in regard to the part of the goods delivered to and accepted by the buyer. For such goods, he (buyer) has to pay a reasonable price for the goods involved. (ii) Further, if either the seller or the buyer, happens to prevent the valuer from making the valuation of the goods involved, such party will be liable to pay the damages to the other party to the contract.

Vous aimerez peut-être aussi