BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Future Goods: The goods which are to be produced, manufactured or acquired by the seller after the contract of sale is made are called future goods. Contingent Goods: The acquisition of which is dependent upon happening or non-happening of some future event are called contingent goods.

Detailed explanation-2: -Contingent goods are subtype of future goods in the sense that in contingent goods the actual sale is to be done in the future. For example, a seller may agree to sell a buyer some specific goods that are due to arrive on a particular ship.

Detailed explanation-3: -It says that it may happen that the seller is dependent on a contingency that is uncertain. The goods involved in this type of contract are called contingent goods. This type of contract is also an agreement to sell under Section 4(3) of the same act.

Detailed explanation-4: -Contingent Goods For example, if you sell your apples from your orchard when the trees are yet to produce apples, the apples are a contingent good. This sale is dependent on the condition that the trees are able to produce apples, which may not happen.

Detailed explanation-5: -Future goods are goods that are not yet in existence or that do not yet belong to the seller when the contract of sale is made. This could be goods that are yet to be manufactured or that the seller has not yet acquired.