Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) The goods that form the subject of a contract of sale may be either existing goods that are owned or possessed by the seller or future goods.
(2) There may be a contract for the sale of goods the acquisition of which by the seller depends on a contingency that may or may not happen.
(3) If, by the contract of sale, the seller purports to effect a present sale of future goods, the contract operates as an agreement to sell the goods.