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KINDS OF GOODS..
1. Existing goods.
1. Future goods.
1. Contingent goods.
Existing goods :
those which are owned or possessed by the seller at the time of the contract of sale.
( a) specific goods : e.g. specified watch or scooter. (b) ascertained goods : goods which become ascertained subsequent to the formation of a contract of sale. (c) unascertained goods : goods which are not identified and agreed upon at the contract of sale
The price..
5. Reasonable price : generally the market price on the date of supply is taken as the reasonable price.