Write the difference between ascertained and unascertained goods?

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Detailed Solution

The difference between ascertained and unascertained goods lies in whether the goods are specifically identified at the time of making the contract. Ascertained goods are already identified and agreed upon, while unascertained goods are not specifically identified at the time of contract and are chosen later.

In business law, goods are divided into different types to clarify ownership, risk, and responsibilities. The Sale of Goods Act defines two important categories: ascertained and unascertained goods. Understanding their difference helps in contracts, delivery, and transfer of ownership.

Aspect	Ascertained Goods	Unascertained Goods
Definition	Goods identified and agreed upon at the time of contract	Goods not specifically identified when contract is made
Example	A car with chassis number XYZ123	Any car from a showroom stock
Ownership	Ownership passes immediately after contract	Ownership passes only after identification
Risk	Risk lies with buyer once contract is made	Risk remains with seller until goods are identified

For instance, if you buy a specific painting in an art gallery (ascertained), it becomes yours once you agree. But if you agree to buy "one painting out of many" without selecting which one (unascertained), ownership transfers only after the selection is done.

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