New South Wales Consolidated Acts

SALE OF GOODS ACT 1923 - SECT 10

10 Existing or future goods

(1) The goods which form the subject of a contract of sale may be either existing goods 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 upon a contingency which may or may not happen.

(3) Where by a contract of sale the seller purports to effect a present sale of future goods, the contract operates as an agreement to sell the goods.