Goods presently available or goods receivable. Goods sold under a contract are goods presently available or goods receivable. Presently available goods are referred to as goods presently held in possession of the seller. Goods receivable refers to goods to be manufactured or procured by the seller, after contract is made. Value of the goods will be the value mentioned in the contract or contracted manner for valuation of such goods.
Contractors can agree upon allowing a third party to decide the value of goods being sold.
When agreeing to sell, the sellers rights over the goods will be acceptable if possession of such goods can be transferred to the buyers name. As per contracted terms on particular point of time possession of goods will be changed to buyers. Suitability of goods sold under a contract, will be questioned only if condition of goods is specified by the buyer to the seller in the contract. Until such time conditions or part condition is fulfilled, the seller has the right to hold the goods. In such cases until the conditions are fulfilled, possession of the good in name of the buyer will not be changed.