hello viewers welcome to my channel i'm hashem ali khan so this is the second video on sale of goods night sale of goods act 1930. the last video i have explained you about the meaning of the term contract of sale and what are the essential elements of a valid sale that i have discussed explained in the previous video hope you have watched that video because this is the continuation of the previous video if you have not watched the first video you cannot be able to understand the second so i suggest you to go to the playlist of my channel select the subject business law select the video on sale of goods act first video essentials of a valid contract of sale then you can come to this video so in this video i'm going to explain you about the differences between sales and agreement to sell very often in examination a question will be asked regarding the differences between sale and agreement to sell because a contract of sale includes both a contract of sale includes sale as well as agreement to sell so a student must be able to know what are the differences between sale and agreements in examination it will be asked apart from that in this video i am going to explain you about the meaning of the term goods and what are the different types of goods classification of rules so these two questions i am going to cover up in this video first of all the differences between sale and agreement to sell what the difference is first one sale is an absolute sale sale is an absolute cell because the ownership is immediately transferred from the seller to the buyer in this sale transaction the ownership will be transferred from the seller to the buyer the buyer will pay the price example a person goes to a i mean uh electronic shop he wants to purchase a television he has paid the price and he got the television that's all said transaction over now what even the agreement to sell it is a conditional sale agreement is made now but the sale will be completed on a future date or on fulfilling some conditions on fulfilling some conditions that's why it is called condition sale so first difference sale is an absolute sale and agreement to sell is a conditional sale which depends on some condition or on a future date second ownership immediately transfer in case of sale transactions in case of sale contract contract of sale ownership is immediately transferred from the seller to the buyer that means the contractual relationship will be discharged immediately in case of sale both the parties have completed their promises the promiser as well as promisee both have completed so transaction is completed ownership is transferred from the seller to the buyer whereas in agreement to sell ownership will be transferred in future or on fulfillment of some conditions because the transfer ownership will be transferred on a future date or in fulfilling some condition the ownership is not transferred at the time when agreement is made the ownership will be transferred on a future date or on fulfilling some conditions third one buyer becomes owner immediately after sale in case of sale contract of sale the buyer becomes the owner immediately immediately after taking the ownership but in seller seller continues to be the owner till the time when he has paid the amount owners even after the agreement to sell even after the agreement to sell the owner will the seller will remain the owner the ownership will not be transferred only after fulfilling the conditions only on a future date the ownership will be touched next one it is called an executed contract contract of sale is an executed contract executed means completed both the parties have completed their obligations the seller has transferred the property and the owner and the buyer has paid the price buyer has paid the price that means the contract is executed whereas in case of agreement to sell the contract is called execute ray contract that means both the parties have still to perform their obligations the buyer and seller has not completed their obligations only they have entered into an agreement executory contract now it gives right on goods to the buyer which is called just in rent it gives the right to the buyer against the property just just in rem means against the property this justin ram is a latin word the meaning of this the meaning of just in rem is right against the property that means when the buyer when the buyer has paid the consideration to the seller no buyer will have the right to get to the property the buyer will have the right against the property just in rent right against the property to whom this right is given to the buyer to the buyer in case of sale contract in case of agreement to say it gives right against the seller which is also called just in person right against person just in person the meaning of this is right against the person not against the goods so if there is a violation in case of contract of sale then the buyer will have the right against the goods he can demand the goods but in case of agreement to sell if there is a violation by the seller buyer will not have the right against the goods the buyer will have the right against the person means seller he can sue the facility he can sue the seller for damages next the goods must be existing with the seller in case of sale agreement in case of contract of sale the goods should be on the hand of seller existing goods must be there existing goods must be there in case of sale contract in case of agreement to sell it may be existing or it may be future goods or it may be contingent goods any type of goods may come in in the case of agreement to sell whereas in case of contract of sale only existing goods must be there that is the next one is in case of breach by the seller the buyer can claim delivery of goods whereas in case of breach the seller can buy the buyer can claim damages in case of breach by the seller the buyer can claim damages but not goods just now i told you just in rent just seem personal if there is a breach of contract by the seller the buyer can claim the goods by the buyer can sue the seller in a court of law and demand the goods in case of contract of sale but in case of agreement to sell the buyer can sue the seller only for damages personally he can sue for damages he cannot demand for goods last one is the risk of destruction of goods after the sale if any falls on the buyer being the owner suppose if the subject matter goods are destroyed after sale after sale that means this loss should be borne by the buyer because as soon as sale is completed the ownership in the goods is transferred from seller to buyer now buyer is the owner so if the goods are destroyed it should be the loss of the buyer not of the seller but in case of agreement to sell if the goods are destroyed after agreement to sell the loss will be of the seller not of the buyer because the property in the goods is not yet transferred the owner is still the seller so destruction of subject matter should be borne by the seller in case of agreement to sell so these are the differences between sale and agreement to sell in examination theory question will be asked like explain the differences between sale and agreement to sell now i am coming to the next question in this video called what are goods and what is the classification of goods or types of goods so in examination this question may be asked regarding goods the subject matter of the contract is goods the contract of sale is made for the purpose of goods the subject matter in between the buyer and the seller are goods so there should be clarity regarding the meaning of the term goods the sale of goods act 1930 has given the definition meaning of goods if we are not sure about the meaning of the term goods we cannot be able to i mean know the provisions regarding the sale of goods act so goods form the subject matter of the contract of sale so without goods no contract of sale so goods are defined as section 2 subsection 7 of the sale of goods act 1930 has given the definition of the term goods according to this definition goods every kind of movable property first you remember goods means movable property immobile property are not goods according to sale of goods act so when a person sells immovable property like house property that will not come under the category of sale of goods that will go that will be taken under by some other law is there for transfer of immobile property here goods means any type any type of goods which are movable every kind of mobile property other than actionable claim and money two things your extrude actionable claim that means amount of due from other person that is actionable claim or money that is that is not good and includes shares and stocks shares and stocks and growing crops grass and other things attached to the land attached or forming part of the land any other thing which is attached or forming part of the land that can be severed that can be detached at the time of sale or at the time of agreement to sell before sale until the contract of sale so this is the complete definition given by section 2 subsection 7 of the sale of goods act what is that a sale every kind of mobile property every kind of mobile property other than actionable claim and money and includes shares and stocks and growing crops grass and any other thing which is attached to or farming part of the land that can be severed at the time of sale in the contract of sale that's this is the definition of the term no classification of goods types of goods broadly goods can be classified into three categories existing goods future goods and contingent goods these are the three existing goods under existing goods again we have specific goods ascertained goods unless certain goals the first of all we will discuss about existing goods goods owned and possessed by the seller goods owned and possessed by the seller at the time of entering into contract at the time of entering into contract the goods are owned and possessed by the seller are called existing goods now the existing goods can be classified as specific goods a certain goods unaccepted first of all specific goods the goods identified and agreed upon at the time of contract of sale are called specific goods when the buyer and seller has identified and agreed at the time of contract of sale are on specific goods example mr a goes to an electronic shop he has decided and identified that this television i want to purchase this television i want to purchase that means it's a specific goods because the buyer and seller has identified defined that this is the item i want to purchase it's a specific goods next is asserting goods a ascertained goods means the goods are not identified but it will be identified after making the contract after making the contract the goods which are ascertained or identified only after formation of contract first formation of contract contract is completed mr a goes to the shop i want to buy a television the television cost is so and so okay decided i want to purchase it agreement is over after that they have identified that this television i want to purchase so from the mass of goods the item is selected so they are called asserting goods under certain goods that means the goods which are not identified and ascertained at the time of sale are called uncertain goods they have not at all ascertained an agreement is made but ascertainment will be done after that so they are also called generic goods generic goods that means goods are completely lying in the go down lying in the shop just we have to identify after completing the contract the first the buyer has paid the price entry into contract and then identified then goes the buyer and seller goes to the mass of the goods and there they will identify which goods the buyer wants to purchase they are not definite or specific they are diff codes defined by description only at the time of making the contract only a description has been given by the buyer to the seller regarding the goods the existing goods can be specific goods are certain goods or other subjects now future second category of goods are future goods now future goods are goods which will be manufactured or which will be produced by the seller after making the contract of same the first of all contract of sale is completed between the buyer and the seller and then after contract of sale that means after making the agreement the seller will produce the goods will make the goods and will supply the rules so in other words it is not a sale transaction it's an agreement to sell because goods are not specific id existing at the time of sale at the time of sale goods are not existing the goods will be produced in future the goods will be produced manufactured in future so first of all a person will come example if i want to make a sofa set for my drawing room i goes to a furniture shop a carpentry furniture maker is there i asked him to make a sofa set according to my description and you make it so faster and supply to me so here the contract is made right now but the goods will be produced manufactured on a future date these are called future rules this cannot there cannot be a sale of future goods that's why we should not sell sale it is an agreement to sell it is an agreement so a contract of sell for future goods is called an agreement to sell not an actual sale last one is contingent sale the sale which is dependent on some contingency happening or not happening that means the completion the sale transaction will be completed only on the event the event is uncertain contingent it may happen or it may not happen those goods which are dependent on some condition are called contingent goods so goods the acquisition of which by the seller depends on uncertain contingency which may or may not happen are called contingent goods simple example i have imported some goods from a foreign country the goods are still on the way so i entered into a contract with a buyer i am the owner of the goods the goods are not on my hand right now the goods are on the way in transit and before reaching the goods to the port of our country i entered into a contract with mr x that after receiving the goods i sell the goods to you that means the contract which is made now is a contingent it the goods are contingent goods because we are not sure whether goods will be received or not so if the goods are received then only the contract of sale will be completed it will become enforceable if the goods are not received the contract is not enforceable so a contract for sale of contingent goods is enforceable only when the event of happening of which the performance of the contract depends has happened the performance of the contract depends on the happening of the event what is that event the goods must reach the port the goods must be in the possession of the seller then only it will be it will become enforcer for example x agrees to sell by a ring there's an agreement x agrees to sell a ring to buy upon the condition what is that condition provided he is able to purchase it from the present owner actually ring is not in the position of x ring is being going to be purchased by x from the present order so if the present owner sells the ring to x then x can be able to sell the ring to y that means the goods are contingent goods the ring is a contingent good because if the present owner sells the ring to x then only x can be able to sell the ring to why so this type of goods are called contingent goods contingent goods another example a farmer is there a farmer enters into an agreement with the commission agent that i will sell my crop provided there is no cyclone if there is no cyclone no i mean destruction of the crops i will sell the crops to you that means the agreement is dependent on contingent goods that's so in this video i will explain you two questions the first question differences between sale and agreement to sell and second question regarding the goods what do you mean by goods according to sale of goods act and what are the different types of goods that is existing goods future goods and contingent goods that's so this is the end of this video so if you are satisfied give a like to the video share my channel in your group in your friends circle so that more students can watch the video enhance the knowledge give your comments and lastly don't forget to subscribe my channel if you have not yet subscribed and insha allah the discussion will be continued on sale of goods in the next video