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 the above

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Existing goods must satisfy two conditions: they must be in existence at the time of contract, AND they must be owned or possessed by the seller. Both requirements are essential for valid sale of existing goods.