Transfer of Property in Unascertained & Future Goods
TRANSFER OF PROPERTY IN UNASCERTAINED AND FUTURE GOODS
INTRODUCTION:
Where there is contract for the sale of unascertained or future goods, the property therein does not pass at the time of making of the contract. The property in unascertained goods cannot pass until the goods are ascertained . Similarly, if the subject- matter is future goods , the contract operates as an agreement to sell , i.e., the buyer does not become the owner at the time of making of the contract.
After the goods have been ascertained, the property in them will pass when the parties intend it to pass . If the parties have expressed the intention, the property in them passes in accordance with the provisions of Sec. 23, which is as under:
Section 23(1):
When there1 is a contract for the sale of unascertained or future goods by description and goods of that description and in a deliverable state are unconditionally appropriated to the contract, either by the seller with assent of the buyer or by the buyer with the assent of the seller, the property in the goods thereupon passes to the buyer. Such assent may be expressed or implied, and may be given either before or after the appropriation is made.
Section 23(2):
Wherein pursuance of the contract, the seller delivers the goods to the buyer or to a carrier as other bailees (whether named by the buyer or not) for the purpose of transmission to the buyer, and does not reserve the right of disposal, he is deemed to have unconditionally appropriated the goods to the contract.
As required by Sec. 23(1), the property in respect of unascertained or future goods sold by description passes to the buyer when the following conditions are satisfied:
1. There is appropriation of the goods to the contract either by the seller or by the buyer.
2. The appropriation of the goods is made by one party with the assent of the other, i.e., if the seller makes the appropriation it must be with the buyer’s assent and if the appropriation is made by the buyer,
INTRODUCTION:
Where there is contract for the sale of unascertained or future goods, the property therein does not pass at the time of making of the contract. The property in unascertained goods cannot pass until the goods are ascertained . Similarly, if the subject- matter is future goods , the contract operates as an agreement to sell , i.e., the buyer does not become the owner at the time of making of the contract.
After the goods have been ascertained, the property in them will pass when the parties intend it to pass . If the parties have expressed the intention, the property in them passes in accordance with the provisions of Sec. 23, which is as under:
Section 23(1):
When there1 is a contract for the sale of unascertained or future goods by description and goods of that description and in a deliverable state are unconditionally appropriated to the contract, either by the seller with assent of the buyer or by the buyer with the assent of the seller, the property in the goods thereupon passes to the buyer. Such assent may be expressed or implied, and may be given either before or after the appropriation is made.
Section 23(2):
Wherein pursuance of the contract, the seller delivers the goods to the buyer or to a carrier as other bailees (whether named by the buyer or not) for the purpose of transmission to the buyer, and does not reserve the right of disposal, he is deemed to have unconditionally appropriated the goods to the contract.
As required by Sec. 23(1), the property in respect of unascertained or future goods sold by description passes to the buyer when the following conditions are satisfied:
1. There is appropriation of the goods to the contract either by the seller or by the buyer.
2. The appropriation of the goods is made by one party with the assent of the other, i.e., if the seller makes the appropriation it must be with the buyer’s assent and if the appropriation is made by the buyer,