Q.What is Contingent Goods ?

Contingent goods are goods the acquisition of which by the seller depends upon a contingency — an uncertain future event that may or may not happen; they are a sub-class of future goods. In the classification of goods under the Sale of Goods Act, 1930, goods are grouped as existing goods, future goods and contingent goods. Contingent goods are studied as a special kind of future goods. - Meaning: goods whose availability to the seller is conditional on some uncertain event happening or not happening. - Key feature: the sale becomes possible only if the contingency is fulfilled; if the event fails, there is no sale. - Example: 'A' agrees to sell goods to 'B' provided a particular ship carrying those goods reaches the port safely. The goods are contingent goods — if the ship does not arrive, A cannot deliver. - Nature: such an agreement is really an agreement to sell (not a completed sale), since ownership passes only in future and only if the …