Eximkey - India Export Import Policy 2004 2013 Exim Policy
Excise Acts, Rules & Regulation Central Excise Acts Chapter 3-Effects of the contract
CHAPTER III

EFFECTS OF THE CONTRACT

Transfer of property as between seller and buyer

23. Sale of unascertained goods and appropriation. -

(1) Where there is a contract for the sale of unascertained or future goods by description and goods of that description and in a deliverable state are unconditionally appropriated to the contract, either by the seller with the assent of the buyer or by the buyer with the assent of the seller, the property in the goods thereupon passes to the buyer. Such assent may be express or implied, and may be given either before or after the appropriation is made.

(2) Delivery to carrier. -

Where, in pursuance of the contract, the seller delivers the goods to the buyer or to a carrier or other bailee (whether named by the buyer or not) for the purpose of transmission to the buyer, and does not reserve the right of disposal, he is deemed to have unconditionally appropriated the goods to the contract.

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