Multiple choice

The necessary condition for existing goods is that

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

  2. they should be owned or possessed by a seller

  3. Both (1) and (2)

  4. None of these

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

Option (3) is correct: According to the Sale of Goods Act, 1930, existing goods are the goods which are owned and possessed by a seller at the time of sale.