Multiple choice

Necessary condition for existing goods is

  1. they should be in existence at the time of the contract of sale

  2. they should be owned or possessed by the seller

  3. both of the above

  4. none of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For goods to be considered 'existing goods' under the Sale of Goods Act, they must satisfy both conditions: (1) they must be in physical existence at the time of the contract, and (2) they must be owned or possessed by the seller. Without ownership, the seller cannot validly sell goods even if they physically exist.

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