8.2 Types of goods

1. Existing goods

Existing goods are those that are physically present and owned by the seller at the time the contract is formed. They are available for immediate delivery and transfer of ownership to the buyer.

2. Future goods

Future goods are goods that do not exist or are not owned by the seller at the time of contract formation. Instead, they are to be manufactured, produced, or acquired by the seller in the future.

3. Specific goods

Specific goods are identified and defined in the contract by their unique characteristics or by a specific description that makes them distinguishable from other goods. The buyer is entitled to receive the exact goods identified in the contract.

4. Unascertained goods

Unascertained goods are goods that are not specifically identified or individually designated in the contract. Instead, the contract may describe them by type, quantity, or other general characteristics.

Ownership and delivery occur when goods of that type or description are later identified and appropriated to the contract.

5. Consumable goods (perishable goods)

Consumable goods are goods that are meant to be consumed or used up in the normal course of their intended purpose. These goods include food, fuel, and other items with a limited lifespan. Their nature requires prompt consumption or use, making time-sensitive delivery crucial.

6. Moveable goods (Chattels)

Moveable goods, also referred to as chattels, are goods that are not affixed to real property (land and buildings). They are mobile and can be transferred from one location to another. Most goods involved in sale of goods contracts fall into this category.