- 1 Marks
Question
In a Sale of Goods transaction, goods in the possession of the seller are called
A. Sellable goods
B. Ascertained goods
C. Common goods
D. Existing goods
E. Future goods
Answer
D
Explanation:
The correct answer is “Existing goods.” These are goods that are owned and possessed by the seller at the time of the sale. Ascertained goods refer to specific goods identified in the contract, while future goods are those to be acquired or manufactured by the seller after the contract is made
- Tags: Contract Law, Goods Classification, Multiple Choice, Sale of Goods
- Level: Level 1
- Topic: Sale of Goods
- Series: NOV 2013
- Uploader: Theophilus