Multiple choice

Goods which are in existence at the time of the Contract of Sale is known as

  1. present goods

  2. existing goods

  3. specified goods

  4. none of the above

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

Existing goods are those in existence at the time of the contract of sale. This is distinct from future goods, which are yet to be manufactured or acquired. The term 'existing goods' is the precise legal terminology used in sales of goods legislation.