Question
Download Solution PDFWhich of the following is/are 'goods' according to Sale of Goods Act, 1930 ?
- Actionable claim
- Money
- Stocks and Shares
- All of the above
- None of the above
Answer (Detailed Solution Below)
Option 3 : Stocks and Shares
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Detailed Solution
Download Solution PDFThe correct answer is option 3.Key Points
- Section 2 (7) of Sale of Goods Act 1932 deals with “goods”.
- It means every kind of moveable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale.
Additional Information
- Section 2 (6) states “future goods” means goods to be manufactured or produced or acquired by the seller after the making of the contract of sale.
- Section 2 (14) states “specific goods” means goods identified and agreed upon at the time a contract of sale is made.
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