धारा 53

Section 53 differentiates between existing and future goods. Existing goods are those that are in existence at the time of the contract, while future goods are those to be manufactured or acquired by the seller after the making of the contract. The section states: “There may be a contract for the sale of goods the acquisition of which by the seller depends upon a contingency which may or may not happen.” Judicial interpretations have clarified that contracts for future goods are valid, provided the goods can be ascertained and the contract specifies the manner of their manufacture or acquisition.