law: Sale of Goods Act, 1930
  6. 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.