Sale of Goods Act 1957 · Updated to 1 Jan 2006 · Chapter II
6. Existing or future goods
Feedback & supportThe goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or future goods.
goods
“goods” means every kind of movable property other than actionable claims and money; and includes stock and shares, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale; a person is said to be “insolvent” who has ceased to pay his debts in the ordinary course of business, or cannot pay his debts as they become due, whether he has committed an act of bankruptcy or not;
There may be a contract for the sale of goods the acquisition of which by the seller depends upon a contingency which may or may not happen.
Where by a contract of sale the seller purports to effect a present sale of future goods, the contract operates as an agreement to sell the goods.
future goods
“future goods” means goods to be manufacture or produced or acquired by the seller after the making of the contract of sale;